On March 24th, the Ontario Media Development Corporation (OMDC) sent a bulletin informing clients that the enhancements to the Ontario Interactive Digital media Tax Credit (OIDMTC) first announced in the Ontario Provincial budget of 2009 have been passed. The tax credit rates have been increased for Eligible and Specified Products on expenditures incurred after March [...]

When companies partake in multiple government funding programs, tax credits, grants, contributions etc, the issue of of ‘double-dipping’ often arises. There seems to be a lot of confusion around the concept of double-dipping and in this post we will attempt to clear some of them. Double-dipping can take one of two forms: (1) two or [...]

On Feb 3, 2010, the BC Ministry of Finance announced changes to the provincial film tax credits and proposed creation of a new Interactive Digital Media tax credit resembling that of Ontario’s OIDMTC. Little details are known at this time. The press release issued by the B.C government reads: “Subject to approval by the legislature, [...]

In our practice we find that at times clients don’t fully understand why after claiming SR&ED investment tax credits the cheque they receive from the government or the amount of available tax credit carry forward is different from the amount claimed. To understand this, let’s look at SR&ED differently. Instead of exploring how SR&ED is [...]

As consultants we meet with many different companies and, to our surprise, a substantial number of business owners, particularly owners-managers, are reluctant to tap into the government incentives available to them. Somehow these very capable, self-made, independent businesspeople perceive applying for government assistance or tax credits as an acknowledgement of their inability to succeed on [...]

The 2009/2010 budgets proposed by many provincial governments have just been announced. Many are keen to help businesses in the recession: corporate tax rates have been reduced across the board and many have slashed small business tax rates even further. In particular, British Columba proposed a small business tax rate of 2.5% and Manitoba is [...]