NEWFOUNDLAND AND LABRADOR
REGULATION 50/22

Film and Video Industry Tax Credit Regulations (Amendment)
under the
Income Tax Act, 2000
(O.C. 2022-194)

(Filed August 9, 2022)

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, August 8, 2022.

Krista Quinlan
Clerk of the Executive Council

REGULATIONS

Analysis

        1.   S.2 Amdt.
Interpretation

        2.   S.7 Amdt.
Tax credit

        3.   S.9 Rep.
Waiver of residency

        4.   Commencement

NLR 3/99
as amended

        1. (1) Paragraphs 2(1)(c) and (d) of the Film and Video Industry Tax Credit Regulations are repealed and the following substituted:

             (c)  "eligible employee" means an employee who was resident in the province on

                      (i)  December 31 of the taxation year, or

                     (ii)  December 31 of the year immediately preceding the taxation year;

             (d)  "eligible individual" means an individual, other than a trust or estate, who was resident in the province on

                      (i)  December 31 of the taxation year, or

                     (ii)  December 31 of the year immediately preceding the taxation year;

             (2)  Subparagraph 2(1)(f)(i) of the regulations is amended by deleting the words "first script stage" and substituting the words "production commencement time".

             (3)  Subparagraph 2(1)(f)(ii) of the regulations is amended by deleting the words "beginning of the first contracted script stage" and substituting the words "production commencement time".

             (4)  Subparagraphs 2(1)(g)(i) and (ii) of the regulations are repealed and the following substituted:

                      (i)  government equity investment provided by the Canada Media Fund, Telefilm Canada or Newfoundland and Labrador Film Development Corporation that is recoupable or repaid, and

                     (ii)  an amount received or receivable under the Canada Media Fund Licence Fee Program;

             (5)  Paragraph 2(3)(d) of the regulations is amended by deleting the word "cameraman" and substituting the words "camera operator".

 

        2. Subsection 7(2) of the regulations is amended by deleting the words "and before January 1, 2022".

        3. Section 9 of the regulations is repealed.

Commencement

        4. Section 2 of these regulations is considered to have come into force on January 1, 2022.

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