BC’s Interactive Digital Media Tax Credit

By |2022-10-27T18:39:16+00:00October 27th, 2022|Taxes, Technology|

The Interactive Digital Media Tax Credit (IDTMC) is for eligible registered corporations that develop interactive digital media credit products in B.C. after August 31, 2010, and before September 1, 2023 (CURRENT deadline). The credit is calculated at 17.5% of eligible salary and wages incurred in the tax year and is FULLY refundable. That means you are required to first apply it to income taxes payable but if you clear that balance you will still get the amount of the credit as a refund! Here is an example, if you have $200,000 in eligible salaries and wages, you may be entitled to [...]