Brief Overview of IDMTC

Program

• The Interactive Digital Media Tax Credit (IDMTC) provides a refundable tax credit on eligible salary and wages involved in creating interactive digital media products in British Columbia.
• Qualifying products must also either educate, entertain, or inform using at least two of the following: text, sound, and/or images.

The Credit

• Eligible companies can recover 17.5% of eligible salary and wages incurred in the fiscal tax year.

• The credit is fully refundable, but is first applied against total income tax payable. There are no carry-back or carry-forward provisions.
• This credit replaces the 10% provincial portion of your SR&ED claim. (Can't receive provincial benefits for both SR&ED and IDMTC)

Who's Eligible?

Eligible corporations must:

• Have more than $100K of eligible salaries and wages and either:

• Develop interactive digital media products as its principal business or a substantial portion of its business consists of:
  • developing interactive digital media products, and/or
  • providing eligible activities to corporations that have a permanent establishment in BC and whose principal business is developing interactive digital media products.

How to Apply

Deadline to claim is within 18 months after fiscal year end.

Contact Boast.AI for a complimentary assessment to discuss eligibility and potential size of your claim.

Can Also Claim SR&ED?

No, you can't claim SR&ED when you claim the IDMTC. The IDMTC credit replaces the 10% provincial portion of your SR&ED claim and you can't receive provincial benefits for both SR&ED and IDMTC.

Want More Info?

• Boast Capital's IDMTC Page: http://boast.ai/interactive-digital-media-tax-credits
• Call: 1.877.387.3332
• Email: info@boast.ai or ITBTaxQuestions@gov.bc.ca