Tax Credit - CANADA, Newfoundland and Labrador

http://www.nlfdc.ca/taxcredit.asp
The Newfoundland and Labrador Film and Video Industry Tax Credit is a fully refundable corporate income tax credit administered by the Newfoundland and Labrador Film Development Corporation (NLFDC) for the Newfoundland and Labrador Department of Finance. The program encourages the development, training and hiring of Newfoundland film personnel in all disciplines.
The Newfoundland and Labrador Film Tax Credit is a provincial corporate tax credit.
The tax credit provides incentives to the private film and television production industry to create economic growth in the Province.
The credit is based on a calculation of eligible labour limited to the lesser of 25% of the total eligible budget or 40% of the total eligible labour expenditures.
Once the production company's final audited cost report breaking out the eligible Newfoundland and Labrador labour expenditure is submitted for review, the Newfoundland and Labrador Department of Finance may issue a certificate to be filed with the production company's corporate tax return.
The credit may also be considered as part of a producer's equity in a given production.
At least 25% of the total salaries and wages must be paid in Newfoundland and Labrador to eligible employees.
Delivery Agency Newfoundland and Labrador Film Development Corporation
Tax Credit Rates: Lesser of 40% of eligible Newfoundland and Labrador labour expenditures or 25% of total production costs of an eligible project with no maximum.
Bonus Features: The NLFDC offers a Deeming Provision which allows the residency requirement to be waived when a qualified resident person is not available; and the non-resident person serves as a mentor of a resident of the province. In this case, 75% of the mentor’s salary and 100% of the resident mentored person’s salary is eligible for the tax credit. Requests must be forwarded to the NLFDC prior to the start of production along with the resumes of the mentor and trainee.
Project Criteria: At least 25% of salaries and wages paid by the corporation with respect to an eligible project shall be paid in the province to eligible employees.
Eligible Companies or Individuals: Must be incorporated under the Corporations Act or an Act of the Parliament of Canada or of the legislature of a province. Must have permanent establishment in the Province. It shall primarily carry on the business of film, television or video production. (Broadcaster / Cable Eligibility Broadcasters / cable companies are not eligible)
Certification: No CAVCO points required
Deductions from Total Eligible Expenses: Total production costs reduced by government assistance (other than government equity investment provided by the Canada Television Fund, Telefilm Canada, the Newfoundland and Labrador Film. Development Corporation and the National Film Board that is recoupable or repaid; and an amount received or receivable under the Canada Television and Cable Production Fund License Fee Program)
Program Cap: None
Project Cap / Corporate Cap: $3 million per 12 month period
Financing Features: Credit is refundable
User Fees: None
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!