Save 17.5% on Payroll with the
Interactive Digital Media Tax Credit
About the IDMTC Program
The Interactive Digital Media Tax Credit (IDMTC) is a provincial program aimed at furthering interactive media development in British Columbia. Eligible businesses can receive a tax credit equivalent to 17.5% of wages and salaries spent.
The business must be making interactive media products that can be controlled by the user, such as video games, e-learning and simulators.
Minimum payroll of $100,000 and principal place of business in BC. Must not be a venture capital corporation.
The business must pay the application fee and cannot have applied for SR&ED in the same fiscal year.
Requiti makes IDMTC easy.
We help businesses qualify and apply for the Interactive Digital Media Tax Credit.
Does your business qualify?
There are a number of inclusion and exclusion criteria for the IDMTC. Requiti assesses your situation and makes a determination whether or not you qualify.
We will collect, prepare and review all documents, invoices and supporting materials, as well asconnect with your corporate accounting team for details. Once we have everything, we prepare the IDMTC application.
Claiming your Refund
We reconnect with your accounting team to provide all IDMTC documents with the T2 corporate tax return. If Requiti determines you qualify and your application is rejected, Requiti will refund the application fee in full.
Requiti makes EBC easy.
We help you and your target business qualify and apply for the EBC tax credit.
Frequently Asked Questions
A corporation cannot register for the IDMTC for a given tax year if it has or is:
- exempt from taxes, or has taxable income exemptions
- a labor-sponsored venture capital corporation
- a registered employee share ownership plan
- a registered employee venture capital corporation
- a registered small business venture capital corporation
- a registered eligible business corporation
- controlled directly or indirectly in any manner by one or more of the above corporations
- claimed a BC SR&ED tax credit for the given tax year
- a personal services business.
Interactive Digital Media products are the only products allowed to be claimed under the IDMTC. For the purposes of the IDMTC, it is a product developed in British Columbia, made for use by an individual, the primary purpose of which is to educate, entertain or inform. The product must include a combination of at least two methods of presenting information: text, sound, and images. This may include video games, educational software, edutainment products, simulators such as flight or driving etc.
Certain products are specifically excluded as per the IDMTC regulations:
- operating system software
- products designed to be used for interactive communication
- products classified as Adults Only
- products designed for marketing or promoting an entity, product or idea
- products which may be contrary to public policy
Depending on your business size, $1000 to $5000. Requiti Capital provides peace of mind. If we determine that you are eligible for IDMTC, and your claim gets denied, Requiti Capital will pay for your application fee.
Marketing, human resource services, administrative support and management support expenditures are not eligible under the program.
Get Requiti Capital working for you
Our team is ready to show how we can help your business get the tax credits it deserves.