Newfoundland and Labrador film and video industry tax credit

The minister of Finance for the Province of Newfoundland and Labrador will issue a tax credit certificate to a corporation that produces an eligible film or video in the province.

The amount of the credit is equal to whichever is less:

• 40% of eligible salaries paid in the tax year to residents of the province
• 25% of the total production costs for each eligible project

The tax credit:

• applies to eligible salaries incurred before January 1, 2022
• is a maximum of $5 million for each eligible corporation, together with all corporations associated with that corporation, for all eligible films or videos begun in a 12-month period. For eligible films or videos begun before July 1, 2021, the maximum is $4 million.

This credit is fully refundable, but must first be applied against total taxes payable.

Claiming the credit

Enter the amount of the credit earned in the current year on line 521 of Schedule 5, Tax Calculation Supplementary – Corporations.

If there is only one certificate, enter the certificate number on line 821 of Schedule 5.

If there is more than one certificate, complete Schedule 302, Additional Certificate Numbers for the Newfoundland and Labrador Film and Video Industry Tax Credit, and file it with your return.

Supporting documents – To claim the credit, file the certificates (or a copy) with your return. Keep a copy for your records.

Forms and publications

• Schedule 302, Additional Certificate Numbers for the Newfoundland and Labrador Film and Video Industry Tax Credit
• Schedule 5, Tax Calculation Supplementary – Corporations

Government partners

• Newfoundland and Labrador (provincial site)