News for B.C. Film and Digital Media Industry

VICTORIA – British Columbia is expanding the Digital Animation or Visual Effects tax credit to post-production activities, and extending the Interactive Digital Media tax credit to 2018, Minister of Finance Michael de Jong announced today with the introduction of Balanced Budget 2015.

The Digital Animation or Visual Effects (DAVE) tax credit will apply to labour expenditures on eligible post-production activities for productions where principal photography begins on or after March 1, 2015.

The Interactive Digital Media tax credit was introduced in 2010 and set to expire in 2015, but Budget 2015 extends the credit to 2018 to continue providing support for the digital media industry. The Interactive Digital Media tax credit is a 17.5{cae2521f64dcff784c511b644c6cc8c98f9594c79acdd41ba953a724385391e5} refundable tax credit on eligible salary and wages for eligible companies that develop interactive digital media products in B.C.

British Columbia also supports filmmakers, actors and other industry participants through a suite of refundable tax credits designed to encourage film and television production activity in all areas of B.C. The credits serve to reduce the cost of wages for film and television companies, and make operating in B.C. more affordable.

The motion picture industry spends over $ 1.1 billion per year on production activity in British Columbia, generating an estimated 20,000 direct and indirect jobs. B.C.’s digital-media industry generates about $ 1.2 billion in revenue and employs approximately 14,000 British Columbians.

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2015-02-18T10:03:31+00:00