OIDMTC is a refundable digital media tax credit that can be filed in addition to SRED. Managed by the Ontario Media Development Corporation (OMDC), the OIDMTC allows up to 35% of eligible expenditures can be refunded to qualifying digital game corporations that incur a minimum of $1 million of Ontario labour costs over a 3-year period. To be eligible for OIDTC, you must be a Canadian corporation that files an Ontario tax return, and your activities must involve an interactive digital media product. The primary purpose of this media product must be to educate, inform, or entertain, and it must present information in at least two of: (i)text, (ii)sound and (iii) images.
To find out more about how your company could benefit from OIDTC, contact Northbridge Consultants.
