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    The Ontario Interactive Digital Media Tax Credit (OIDMTC) may be claimed by "qualifying corporations", with an establishment in Ontario.



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    Who is eligible for the OIDMTC?

    A qualifying corporation is a Canadian corporation (or a foreign-owned corporation operating in Canada) that: 1. has developed an eligible product at a permanent establishment in Ontario, 2. is required to file an Ontario Corporate Tax return, and 3. has an annual gross revenue of less than $20 million and total assets of no more than $10 million. Tax-exempt corporations, such as non-profit organizations or "labour sponsored venture capital corporations" do not qualify.
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    To obtain the Credit, the products must be completed and expenses need to be paid for. Qualifying corporations must submit an application to OMDC



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    How Do You Apply for OIDMTC?

    To obtain the Credit, the product must be completed and all related expenses must have been paid. The qualifying corporation must submit an application to the Ontario Media Development Corporation ("OMDC") to obtain a certificate of eligibility. The certificate is then filed with the Canada Revenue Agency, together with the corporation's tax return, which is reviewed or audited.
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    OIDMTC qualifying corporations must develop an interactive product that serves to educate, inform or entertain..



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    Which Products Are Eligible For OIDMTC?

    The information must be presented in at least two of the following forms: text, sound or images. Examples of eligible products include web sites, CD-ROMS and DVD-ROMS. Products used primarily for interpersonal communications or for promotional purposes are not eligible. In addition, 80% or more of the labour expenses must have been incurred in Ontario and 25% of total labour costs must attribute to salary based employees on T4.
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    OIDMTC is equal to 40% of labour expenses directly attributable to the development of the eligible product design,



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    Which expenses can be claimed?

    product design, planning, production & testing, but excludes product launch. You may claim marketing and distribution expenses of up to $100,000 in addition to the labour expenses related to development. Labour expenses encompass 100% of all salaries paid by the qualifying corporation Non-employees may include individuals, partnerships or corporations, as long as: 1. they are involved in the development of the product, 2. they are mainly providing individual services and 3. they have a permanent establishment in Ontario.
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About Media Funds®

The founders of MediaFunds know first-hand the challenges faced by founders and entrepreneurs in funding the growth of their businesses. MediaFunds was established to provide assistance in processing OIDMTC (Ontario Interactive Digital Media Tax Credit) claims for interactive product development. Our OIDMTC processing service helps companies to focus on their core business operations while we take care of processing your media tax credits.

Simply put, we help our clients get back the most money that they are eligible for.

Unlike other accounting firms, MediaFunds backs up its tax credit preparation services with an in-house team of experienced Media Content Specialists that possess technical knowledge of the underlying software and business niche. Our team of professional consultants provide a hands on approach and walk you through the entire process, from the initial phase until you receive the cheque in your hand. We save you time to focus on your business, while we maximize your OIDMTC…Simple.

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