NEWFOUNDLAND AND LABRADOR REGULATION 34/21

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Newfoundland and Labrador
Regulation 2021

NEWFOUNDLAND AND LABRADOR
REGULATION 34/21

Film and Video Industry Tax Credit Regulations (Amendment)
under the
Income Tax Act, 2000
(O.C. 2021-176)

(Filed June 30, 2021)

Under the authority of section 68 of the Income Tax Act, 2000, the Lieutenant-Governor in Council makes the following regulations.

Dated at St. John’s, June 29, 2021.

Gary Norris
Clerk of the Executive Council

REGULATIONS

Analysis

1. S.7 Amdt.
Tax credit

2. Commencement

NLR 3/99
as amended

1. Subsection 7(4) of the Film and Video Industry Tax Credit Regulations is repealed and the following substituted:

(4) The maximum tax credit within a 12 month period that may be received by an eligible corporation, together with all corporations associated with that corporation, in respect of all eligible projects commenced on or after July 1, 2021 is $5,000,000.

Commencement

2. These regulations come into force on July 1, 2021.