The Ontario Film and Television Tax Credit (OFTTC) is a refundable tax credit. It is available to corporations for eligible Ontario labour expenses on Ontario film and television productions.
Corporations cannot claim the OFTTC if the Ontario Production Services Tax Credit was claimed for the same production.
The Canada Revenue Agency (CRA) administers the program on behalf of Ontario through the federal income tax system.
The credit is equal to:
A further credit of 10% of Ontario labour expenses is available for filming outside the Greater Toronto Area.
To qualify, an eligible corporation:
Corporations must obtain a Certificate of Eligibility from the Ontario Media Development Corporation (OMDC), and attach it to their T2 Corporation Income Tax Return (T2 return).
Corporations must claim the tax credit on Schedule T2SCH556, and file it with their T2 return.