All Spend Tax Credit
Budget 2023 announced an increase to 40 percent for the All Spend Film and Video Production Tax Credit. This tax credit will apply to total qualified production costs with a maximum tax credit of $10 million annually per project.
Labour Based Tax Credit
The Newfoundland and Labrador Film and Video Tax Credit program is a fully refundable tax credit based on a 40% rebate on eligible Newfoundland and Labrador resident labour expenditures. The tax credit is calculated as 40 percent of the total eligible labour expenditures to a maximum of 25 percent of the total eligible production budget.
The film and video industry tax credit is a fully refundable corporate income tax credit administered on behalf of the Department of Finance by the PictureNL. It is an integral ingredient of film financing throughout Canada and allows each province’s economy to pull in new investment and create high quality employment.
Applications must be made before first day of principal photography for any project. The tax credit is co-administered with the provincial Department of Finance.