Ontario Refundable Media Tax Credits

Transcript

Did you know that Ontario refundable media tax credit claims are now being reviewed by the CRA, Canada Revenue Agency?

For tax years ending on or after January 1, 2009, the CRA is your single point of contact for matters relating to Ontario provincial corporate income tax.

To claim one or more Ontario refundable media tax credits, Ontario corporations must complete and file a T2 Corporation Income Tax Return, along with the appropriate schedules and the original or a copy of the certificates of eligibility, with the CRA.

The Ontario Media Development Corporation will continue to issue the certificates of eligibility.

Refunds for the Ontario refundable media tax credits that are claimed on the T2 return will be issued by the CRA.

These refunds will be reduced by the amount of any outstanding taxes.

Questions about filing Ontario refundable media tax credit claims for tax years ending on or after January 1, 2009, should be directed to the CRA Film Services Units.

To learn more about the Ontario refundable media tax credits or how to contact us, go to www.cra.gc.ca/filmservices

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