Film & video tax credits in Newfoundland and Labrador.
Competitive, predictable incentives designed to fit into your financing plan.
PictureNL offers two paths for production funding.
For advice on which path is best for your production, contact our Manager of Programs.
Depending on eligibility criteria, producers can choose either the All-Spend Film and Video Production Tax Credit or The Film and Video Industry Tax Credit + The Equity Investment Program. You cannot choose both paths. PictureNL staff can walk you through what this looks like for your specific project. Explore both tax credit options below
The All-Spend Film and Video Production Tax Credit is a refundable corporate income tax credit available at the rate of 40% of eligible production costs, to a maximum tax credit of $20 million annually per project.
Eligible production costs may include:
• Eligible salaries
• Eligible service contract expenditures
• Parent-subsidy amounts
• Eligible tangible property expenditures
• Eligible accommodation expenditures
To qualify for this tax credit, a corporation must first submit a Part I application to PictureNL prior to the commencement of the production. Once registered, eligible corporations must claim their credit by submitting a Part II application within 18 months of the end of their taxation year. Upon approval of the credit from the Department of Finance, the eligible corporation will be issued a tax credit certificate to attach to their T2 return.
OPTION A
All-Spend Film and Video
Production Tax Credit
OPTION B
Film And Video Industry Tax Credit +
The Equity Investment Program
The Film And Video Industry Tax Credit is a refundable provincial Corporate Income Tax credit for eligible local film projects at a rate of 40% of eligible local labour costs but may not exceed 25% of production costs.
To qualify for this tax credit, a corporation must first submit a Part I application to PictureNL prior to the commencement of the production.
Once the project is completed and financial statements and cost reports finalized, the eligible corporation may then apply for part II of the tax credit.
Upon approval from the Department of Finance, the eligible corporation is issued a tax credit certificate which must be attached to the T2 return. May be combined with the Equity Investment Program.
How the process works
PictureNL staff can walk you through what this looks like for your specific project.
Step 1: Confirm Eligibility
Review tax credit guidelines and confirm your project, company, and budget structure meet the program requirements.
Step 2: Apply
Submit an application to PictureNL / the Newfoundland and Labrador Film and Video Tax Credit program before you start shooting.
Step 3: Produce & Report
Complete production, then finalize your cost reports and audited financial statements as required.
Step 4: Certification & Claim
Once approved, you receive a tax credit certificate from the Department of Finance, which is then used in your corporate tax return to claim the credit.
Ready to get started?
PictureNL’s Programs team works directly with producers to help them understand available tax credits and how they can fit within a project’s financing plan. Reach out to discuss eligibility, timelines, and the best path forward for your production.
For more information, please contact:
Manager of Programs
david@picturenl.ca
Phone: (709) 738-3456
Toll Free: (877) 738-3456