The BC Arts Council, our arts and culture partner, offers programs that serve various creative industries supported by Creative BC. The BCAC's Project Assistance: Professional Arts Festivals grant program supports eligible organizations and arts or curatorial...
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FIBC/PSTC Applicants: Know your CRA filing deadline
February 2023 – An eligible production corporation (under Film Incentive BC – FIBC) or an accredited production corporation (under Production Services Tax Credit – PSTC) can claim the tax credit when filing the T2 Corporate Income Tax Return. A completed claim form and the certificate(s) for each eligible production should be attached to the top of the T2 form for each taxation year.
PSTC
For taxation years beginning on or after February 19, 2020, the claim form (T1197) – T1197 BC Production Services Tax Credit Form, accreditation certificate and T2 must be filed with the Canada Revenue Agency (CRA) within 18 months from the end of the tax year in which the PSTC is being claimed. The CRA will not process claims that are filed late or that are missing the required documents by the deadline.
FIBC
For taxation years beginning on or after February 19, 2020, the claim form (T1196) – T1196 BC Film and Television Tax Credit Form, eligibility certificate and T2 must be filed with the Canada Revenue Agency (CRA) within 18 months from the end of the tax year in which the FIBC is being claimed. Also, the production corporation must submit a completion certificate with their T2 corporate income tax return if the production was completed in the related tax year. The CRA will not process claims that are filed late or that are missing the required documents by the deadline.
Note that for taxation years beginning before February 19, 2020, the filing period with CRA is 36 months from the fiscal year end of the corporation.
Read more: Legislation
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