NEWFOUNDLAND AND LABRADOR
REGULATION 15/21

Interactive Digital Media Tax Credit Regulations (Amendment)
under the
Income Tax Act, 2000
(O.C. 2021-017)

(Filed March 31, 2021)

Under the authority of section 46.3 of the Income Tax Act, 2000, the Lieutenant-Governor in Council makes the following regulations.

Dated at St. John’s, March 30, 2021.

Gary Norris
Clerk of the Executive Council

REGULATIONS

Analysis

           1.    S.9 Amdt.
Tax credit certificate

           2.    Commencement

NLR 84/15
as amended

       1.  (1) Paragraph 9(2)(b) of the Interactive Digital Media Tax Credit Regulations is repealed and the following substituted:

           (b)  before January 1, 2025.

           (2)  Subsection 9(3) of the regulations is repealed and the following substituted:

           (3)  Notwithstanding paragraph (1)(a), where an eligible corporation is applying for a tax credit certificate with respect to qualifying expenditures referred to in subsection 10(2) the eligible corporation shall apply for a tax credit certificate in respect of those qualifying expenditures within 18 months of the end of the taxation year during which the eligible product is completed.

Commencement

       2.  These regulations are considered to have come into force on January 1, 2020.

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