{"id":170,"date":"2020-08-06T20:09:25","date_gmt":"2020-08-07T03:09:25","guid":{"rendered":"https:\/\/crbc946376964.wpcomstaging.com\/?page_id=170"},"modified":"2024-04-02T10:09:29","modified_gmt":"2024-04-02T17:09:29","slug":"production-services-tax-credit","status":"publish","type":"page","link":"https:\/\/creativebc.com\/motion-picture-tax-credits\/production-services-tax-credit\/","title":{"rendered":"PSTC | Production Services Tax Credit"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.24.2″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_row _builder_version=”4.16″ _module_preset=”default” custom_padding=”||0px|||” collapsed=”off” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_text _builder_version=”4.16″ _module_preset=”67447826-2690-4a15-b48a-f1dfb32c84be” text_font=”Inter|500|||||||” custom_margin=”||19px|||” global_colors_info=”{}” theme_builder_area=”post_content”]<\/p>\n

About PSTC<\/span><\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.24.2″ _module_preset=”default” custom_padding=”|0px|||false|false” global_colors_info=”{}” theme_builder_area=”post_content”]<\/p>\n

The Production Services Tax Credit (PSTC) is a refundable labour based tax incentive for international projects made in B.C.<\/p>\n

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The PSTC is a refundable corporate income tax credit. When filing tax returns, your corporation may claim a specified percentage of the labour costs incurred in making a production. The credits are applied to reduce tax payable, and any remaining balance is paid to the corporation.<\/p>\n

In order to claim the PSTC tax credits, your accredited production corporation<\/span><\/span> must file a corporate income tax return, along with the certificates, with the Canada Revenue Agency.<\/p>\n

The PSTC is not subject to any Canadian content requirements. In addition, there is no limit on the PSTC that may be claimed on a particular production and there is no limit that a corporation or group of corporations can claim.<\/p>\n

The program includes four initiatives: Basic, Regional, Distant Location and Digital Animation, Visual Effects and Post-Production (DAVE).<\/p>\n

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FOR PRODUCTIONS WITH A PRINCIPAL PHOTOGRAPHY START DATE AFTER SEPTEMBER 30, 2016*:<\/strong><\/p>\n

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Tax Credit<\/strong><\/span><\/td>\nValue<\/strong><\/span><\/td>\n<\/tr>\n
Basic PSTC<\/td>\n28%<\/strong><\/td>\n<\/tr>\n
Regional PSTC<\/td>\n6%<\/strong><\/td>\n<\/tr>\n
Distant Location Tax Credit<\/td>\n6%<\/strong><\/td>\n<\/tr>\n
Digital Animation, Visual Effects + Post-Production (DAVE)<\/td>\n16%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

For productions with a principal photography start date after September 30, 2016<\/span><\/h4>\n

*For productions with a principal photography start date before October 1, 2016, please contact Creative BC<\/a> for more information.<\/span><\/h4>\n

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Important message regarding pre-certification<\/span><\/p>\n

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As previously announced<\/span><\/a>, Budget 2023 introduces legislative measures for accredited production corporations<\/span><\/span> that first incurred an ABCLE between July 1, 2020 and February 21, 2022.<\/o:p><\/p>\n

These measures will allow accredited production corporations<\/span><\/span> to claim ABCLE incurred up to<\/strong> 120 days prior to the pre-certification form submission date, regardless of how late the pre-certification form was filed. However, accredited corporations will be unable to claim ABCLE incurred\u00a0more than<\/strong>\u00a0120 days prior to filing the pre-certification form<\/span><\/a>. This may reduce the production services tax credit available.<\/o:p><\/p>\n

The CRA is administering the production services tax credit using these new rules. If an accredited production corporation<\/span><\/span> has already been denied a portion of their PSTC claim by the Canada Revenue Agency (CRA) due to late pre-certification filing, the accredited corporation can request an adjustment to its T2 corporate tax return. \u00a0For more information, see Requesting a reassessment of your T2 return \u2013 Canada.ca<\/span><\/a><\/o:p><\/p>\n

For productions that first incurred an ABCLE on or after February 22, 2022<\/strong>, these accredited production corporations<\/span><\/span> are still required to submit their pre-certification form within 120 days of their first ABCLE. Once the pre-certification number is issued, the accredited corporation may apply to Creative BC to receive an accreditation certificate for the production. If a production company submits their pre-certification form<\/span><\/a> after the 120-day period, ABCLE incurred prior to submitting the form will not be eligible for the PSTC.<\/o:p><\/p>\n

Read recent legislative changes on the BC Government PSTC webpage<\/span><\/a>.<\/o:p><\/p>\n

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Important message about when to submit a full PSTC application<\/span><\/p>\n

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Accredited production corporations<\/span><\/span> are encouraged to apply for their tax credit certificates as soon as they have locked budget and principal photography or key animation started. We strongly recommend accredited production corporations<\/span><\/span> submit their accreditation certificate application to Creative BC within 12 months of the corporation\u2019s taxation year end<\/strong>. This is because we may require up to 4 months to process complete applications. We are unable to guarantee that applications filed later will be processed in time for the accredited production corporation<\/span><\/span> to file with the CRA before the deadline, which may result in denied claims.<\/p>\n

Last updated: April 1, 2023.<\/i><\/span><\/span><\/p>\n

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Apply Online<\/span><\/p>\n

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Pre-requisite for PSTC – Apply through Creative BC’s online tax credit application portal<\/p>\n

-><\/span><\/p>\n

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For PSTC applicants<\/p>\n

-><\/span><\/p>\n

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Additional Resources<\/span><\/p>\n

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PSTC Frequently Asked Questions<\/a><\/span><\/p>\n

PSTC Sample Calculator<\/a><\/span><\/p>\n

Ministry of Finance – Production Services Tax Credits<\/a><\/span><\/p>\n

Canadian Audio-Visual Certification Office (CAVCO)<\/a><\/span><\/p>\n

Canada Revenue Agency (CRA)<\/a><\/span><\/p>\n

Legislation<\/a><\/span><\/p>\n

Regulation<\/a><\/span><\/p>\n

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Contact the Motion Picture Tax Credit Team
<\/strong>taxteam@creativebc.com<\/p>\n

Contact staff directly<\/strong><\/p>\n

Biljana Radovic <\/span><\/strong>| Manager, Motion Picture Tax Credits
Tel: +1 604 730 2232
bradovic (at) creativebc.com<\/p>\n

Joanne Chow <\/strong>| Senior <\/span>Business Analyst, Motion Picture Tax Credits
Tel: +1 778 657 6278
jchow (at) creativebc.com<\/p>\n

Lea Chambers<\/strong> | Senior <\/span>Business Analyst, Motion Picture Tax Credits
Tel: +1 604 730 2252
lchambers (at) creativebc.com<\/p>\n

Andr\u00e9e Laplante<\/span><\/strong> | Business Analyst, Motion Picture Tax Credits
Tel: +1 604 262 8678
alaplante (at) creativebc.com<\/p>\n

Patricia Lee<\/span><\/strong> | Business Analyst, Motion Picture Tax Credits
Tel: +1 236 471 0786
plee (at) creativebc.com<\/p>\n

Derek Clayton<\/span><\/strong>\u00a0| Business Analyst, Motion Picture Tax Credits
Tel: +1 236 471 0877
dclayton (at) creativebc.com<\/p>\n

Troy Taillon<\/span><\/strong> | Business Analyst, Motion Picture Tax Credits
Tel: +1 236-471-0681
ttaillon (at) creativebc.com<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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PSTC Pre-Certification Process<\/span><\/p>\n

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Tax Credits Overview<\/span><\/p>\n

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Basic Tax Credit<\/span><\/p>\n

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Chain of Title<\/span><\/p>\n

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Regional + Distant Tax Credits<\/span><\/p>\n

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B.C. Budget
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Learn about the adjustments to Production Services Tax Credit (PSTC) application timelines and protocols.<\/span><\/p>\n

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Effective July\u00a01,\u00a02020, the Income Tax Act\u2019s production services tax credit is amended to allow corporations to claim labour expenditures incurred up to 120\u00a0days prior to the pre-certification form submission date under the credit, regardless of how late the pre-certification form was filed. This will only apply to film productions that incurred their first eligible accredited labour expenditure between July\u00a01,\u00a02020, and February\u00a021,\u00a02022<\/u>. Read Budget and Fiscal Plan 2023\/24 – 2025\/26 (gov.bc.ca)<\/span><\/a>.<\/p>\n

As previously announced<\/a>, Budget 2023 introduces the afore-mentioned legislative measures.<\/p>\n<\/div>\n

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B.C. Budget 2022 extends the deadline for the production services tax credits applicant to file a pre-certification form from 60 to 120 days effective February 22, 2022<\/strong>.<\/p>\n

This impacts productions that first incur accredited BC labour expenditures on or after February 22, 2022 and they must give a notice by submitting a pre-certification form through the Creative BC website within 120 days after incurring the first accredited B.C. labour expenditure.<\/p>\n

Productions that first incurred accredited B.C. labour expenditures before February 22, 2022 but after June 30, 2020 have 60 days to file a pre-certification form (per Budget 2020).<\/p>\n

If a pre-certification form is not submitted within the specified number of days, production companies are unable to claim labour expenditures incurred prior to filing the form.<\/p>\n

For example, if a company files their pre-certification form 150 days after their first accredited B.C. labour expenditure, they will not be eligible to claim any labour expenditures that occurred within those 150 days. This in turn would reduce the production services tax credit that the production company would receive.<\/p>\n

Once the pre-certification number is issued, the production corporation may apply to Creative BC to receive an accreditation certificate for the production.<\/p>\n

To find out more, visit:\u00a0https:\/\/www2.gov.bc.ca\/gov\/content\/taxes\/income-taxes\/corporate\/credits\/production-services<\/a><\/p>\n

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With the recent announcement of B.C.’s Budget & Fiscal Plan 2020, one new and two previous announcements should be noted by applicants to B.C. motion picture tax credit programs:<\/div>\n
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