Ontario has announced enhancements to its digital media tax credits which supports large, specialized video game developers that are developing eligible interactive digital media games in the province. The tax credit provides certified game developers that incur at least $1 million of Ontario labour expenditures per year in the development of eligible interactive digital media games a 35% Ontario Interactive Digital Media Tax Credit on Ontario salaries and wages. The changes positions Ontario to become a centre of excellence for the development of digital media by allowing specialized game developers to claim the tax incentives annually.
How dare they develop a program for ‘large’ businesses? Ontario, Quebec and BC (and to a lesser extent PEI and NS) are battling it out for the digital media industry in Canada. It will be interesting to see how all these programs will resettle the landscape.
Of course these companies could spare themselves the hassle of trying to figure out who has the best incentive programs and come to New Brunswick to save a couple of points on their corporate tax rate