On December 12, 2024, the Ministry of Finance and Ministry of Tourism, Arts, Culture and Sport announced the following updates, subject to approval of budget legislation: For FIBC applicants: The basic tax credit will increase from 35% to 36% for productions that...
Action! B.C. sets the scene to attract more film, TV productions
This news release was issued by the Province of British Columbia. For all media inquiries, please contact the Province's official media representatives directly. See original release here. Increased tax incentives for British Columbia’s motion picture sector will...
Get to know the DAVE bonus tax credit
The Digital Animation Visual Effects and Post-Production Tax Credit (“DAVE”) is a refundable Film and Television bonus tax credit available under both of B.C.’s motion picture tax credit programs: Film Incentive BC (FIBC) and the Production Services Tax Credit (PSTC)....
Early Creative BC insights project that 2023 production spending by film and television projects in B.C. was in the range of $2.3B, down 29% overall from $3.3B in 2022
Early Creative BC insights project that 2023 production spending by film and television projects in B.C. was in the range of $2.3B, down 29% overall from $3.3B in 2022. Figures may be further reduced should productions with intent to apply not materialize as...
Introducing a new tool for PSTC and FIBC tax credit applicants: Deadline Calculator
Business Affairs and Production Accounting teams can now quickly, accurately, and instantly build B.C. motion picture tax credit deadlines into their project plans. Creative BC introduces a deadline calculator for its PSTC and FIBC programs, integrating eligibility,...
Important Message for PSTC and FIBC Applicants: Animated Productions no longer eligible for Regional and Distant Location Tax Credits
Budget Measures Implementation Act 2024 received royal assent on April 25, 2024, thus an amendment to the Regional and Distant location tax credits in the B.C. Income Tax Act to exclude animated productions from eligibility will affect animated productions with key...
Processing Time for Tax Credit Applications within the Service Standard
Service Standard & Processing Time Creative BC’s service standard for processing applications to the Film Incentive BC (FIBC) and the Production Services Tax Credit (PSTC) programs is 120 days from the date a complete application is received, 90% of the...
Important Message for PSTC and FIBC Applicants: Animated Productions excluded from Regional and Distant Location Tax Credits
B.C. Budget proposes an amendment to the Regional and Distant location tax credits in the B.C. Income Tax Act to exclude animated productions from eligibility. Proposed changes apply for animated productions under either the Film Incentive BC or the Production...
FIBC Tax Credit Applicants: What “grinds” tax credits?
Under Film Incentive BC (“FIBC”), the tax credit amounts are calculated on the qualified BC labour expenditure (QBCLE) of the corporation, which is the lesser of the (a) labour cap or (b) BC labour incurred by the production company (excluding writer fees). Some...
Creative BC insights show that 2022 production spending by film and television projects in B.C. is over the estimated $3.6B mark in B.C.
Creative BC insights show that 2022 production spending by film and television projects in B.C. is over the estimated $3.6B mark in B.C. These figures are steady with, if slightly above, 2021 numbers for original film and television production activity. British...
FIBC Tax Credit Applicants: Canadian Content Points
Are you planning your next Canadian content production? Be sure to know the Canadian Content rules. Under Film Incentive BC, a production that is not an international treaty co-production must be allotted at least 6 Canadian content points by the certifying authority;...
FIBC Tax Credit Applicants: Producer Control
For Film Incentive BC (“FIBC”) applications, the “producer” of a film or video production is defined in the Income Tax Act – Film and Television Tax Credit Regulations as: the individual who (a) controls and is the central decision maker in respect of the production,...
FIBC/PSTC Applicants: Important Update Regarding Creative BC Banking Account Information
Creative BC has recently made an update to our bank account information, including our bank account number. For future application fee payments via e-transfer, direct deposit, or wire transfer, please use the new account number as described in our updated Payment...
FIBC/PSTC Applicants: Know your CRA filing deadline
February 2023 - An eligible production corporation (under Film Incentive BC - FIBC) or an accredited production corporation (under Production Services Tax Credit - PSTC) can claim the tax credit when filing the T2 Corporate Income Tax Return. A completed claim form...
Important reminder for FIBC applicants: Completion certificate required in the final tax year of production after transition period
As of March 31, 2023, the transition period, with respect to the requirement that a Completion Certificate be submitted with the T2 corporate income tax return in the final tax year of the production, will be ending. Starting April 1, 2023 per section 85(1) of the...
FIBC/PSTC Applicants: Tax Credit Form Updates
Creative BC has updated the forms available in the Motion Picture Tax Credits section on the website to make PDF documents fillable for your convenience and our efficient data processing. There are updated fillable PDF forms available here: Production Schedule...
PSTC/FIBC Applicants: Production Company Business Number (BN)
The business number (BN) is a unique number assigned to a company by the Canada Revenue Agency (CRA). Business owners use this number to identify their company when in contact with any federal, provincial, or local government program. The business number consists of...
FIBC eligibility requirements and exceptions specific to documentary productions
“Documentary” is considered a non-fiction motion picture production format intended to document a specific topic/subject, primarily designed to inform, educate and entertain, providing an in-depth critical analysis of a specific subject or point of view. (See CRTC...
PSTC/FIBC Tax Credits: Queue wait times
Motion Picture Tax Credit application standard is to process applications within 120 days from the date we receive a complete application. Incomplete applications, outstanding information or missing documents can delay the issuing of certificates. An application can...
Important message for PSTC applicants regarding pre-certification
Currently, under section 79 (1) "accredited qualified BC labour expenditure" of the Income Tax Act of British Columbia, an accredited production corporation claiming the Production Services Tax Credits (PSTC) must give notice (pre-certification) in accordance with...