Film Incentive BC Tax Credit
- Jill Reilly | Business Analyst - Tax CreditsTel: +1 604 730 2237Tim Mudd | Business Analyst - Tax CreditsTel: +1 604 730 2231
FIBC is a labour based tax credit available to Canadian owned and controlled production corporations that have a permanent establishment in BC.
FIBC provides refundable tax credits to Canadian controlled production companies based on eligible BC labour costs. This tax credit is designed to encourage film, television, digital animation, and visual effects production in British Columbia. The program includes five initiatives: Basic, Regional, Distant Location Regional, Training, and Digital Animation, Visual Effects and Post-Production (DAVE).
Tax Credit Value Basic FIBC 35% Regional Tax Credit 12.5% Distant Regional Tax Credit 6% Training Tax Credit 30%
FOR PRODUCTIONS WITH A PRINCIPAL PHOTOGRAPHY START DATE UP TO SEPTEMBER 30, 2016:
Digital Animation, Visual Effects + Post-Production (DAVE) 17.5%
FOR PRODUCTIONS WITH A PRINCIPAL PHOTOGRAPHY START DATE AFTER SEPTEMBER 30, 2016:
Digital Animation, Visual Effects + Post-Production (DAVE) 16%
Tax Credit Changes and Transitional Provisions (READ HERE)
New Film Tax Credit Rates give Industry Certainty and Protect Taxpayers (READ HERE)
- FIBC is a refundable corporate income tax credit. When filing tax returns, your corporation may claim a specified percentage of the labour costs incurred while making a production. The credits are applied to reduce tax payable, and any remaining balance is paid to the corporation. Please note that your production corporation must apply to Creative BC to receive an eligibility and completion certificate for your production. In order to claim FIBC tax credits, your production corporation must file a corporate income tax return, along with the certificates, with the Canada Revenue Agency.