NEWFOUNDLAND AND LABRADOR
REGULATION 30/23

Film and Video Industry Tax Credit Regulations (Amendment)
under the
Income Tax Act, 2000
(O.C. 2023-087)

(Filed April 10, 2023)

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, April 6, 2023.

Krista Quinlan
Clerk of the Executive Council

REGULATIONS

Analysis

           1.    S.7 Amdt.
Tax credit

           2.    Commencement

NLR 3/99
as amended

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  (1) Subsection 7(4) of the Film and Video Industry Tax Credit Regulations is repealed and the following substituted:

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

           (2)  Subsection 7(4) of the regulations is repealed and the following substituted:

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

Commencement

       2.  (1) Subsection 1(1) of these regulations is considered to have come into force on April 1, 2013.

           (2)  Subsection 1(2) of these regulations is considered to have come into force on July 1, 2021.

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