Related News

Apply for the Ohsoto’kino Music Incubator

This five-day artist development intensive is open to Indigenous artists across Canada. Each year, six participants will converge at Calgary's Studio Bell, home of the National Music Centre, to learn new skills and connect with national music industry experts. This...

New Women in Music Songwriting Workshop on April 28, 2024

Women in Music BC is offering an educational panel on the business of songwriting on April 28, 2024. This event is open to women and gender-diverse creatives, and will culminate in an intimate songwriter's circle. Delivered by Mary Ancheta, Alexandria Maillot, and...

Important message for FIBC applicants: CRA allows a transition period for filing requirement

Jun 22, 2022

Under section 85(1) of the Income Tax Act of British Columbia, corporations filing a claim for the British Columbia film and television tax credit (BCFTTC – FIBC) must submit a Completion Certificate with their T2 corporation income tax return if the production was completed in the related tax year. To make sure that claimants receive the tax credit to which they are entitled, an Eligibility Certificate alone will no longer be accepted for the tax year a production is completed.

Going forward, a Completion Certificate will be required for productions that are completed in a tax year. To help applicants adjust to the new process, the Canada Revenue Agency (CRA) has implemented a transition period.

Transition period

The CRA is offering the transition period until March 31, 2023, to give BCFTTC (FIBC) claimants time to adapt to this filing requirement. During this period, the CRA will accept either an Eligibility Certificate and/or a Completion Certificate for BCFTTC (FIBC) claims for the tax year a production is completed. However, if a final-year claim is processed with only an Eligibility Certificate, the production must still get a Completion Certificate within the legislated time period that applies:

  • 18 months from the tax year when the qualified BC labour expenditure was incurred, or
  • 30 months from the end of the tax year in which principal photography of the production began

The CRA encourages corporations to apply for a Completion Certificate with Creative BC as soon as possible to avoid delays and reduce the risk of losing tax credits for which they may otherwise be eligible.

Submit Your Questions

To find out more, visit: What’s new – Film and media tax credits

Stay Connected

Subscribe to our newsletters