$1 million and above

Newfoundland and Labrador Interactive Digital Media (IDM) Tax Credit

Amount:

$2,000,000

Type of Program:

Tax Credit

Description:

The Newfoundland and Labrador Interactive Digital Media (IDM) is a refundable tax credit based on eligible salaries and eligible remuneration incurred by an eligible corporation for the development of interactive digital media products during the period of January 1, 2015 to December 31, 2024 inclusive. Applicants must apply to the Minister of Finance for a tax credit certificate within 18 months of the end of each taxation year.

Comments on Funding:

Funding is 40% of qualifying expenditures.
Eligible expenditures include eligible salaries and 65% of eligible remuneration.
The credit value is limited to $40,000 per employee per year and $2 million per company, or group of associated companies, per year.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

be a corporation developing an interactive digital media product,
be primarily carrying on the business of interactive digital media development,
have a permanent establishment in the province of Newfoundland and Labrador,
be a taxable Canadian corporation,
hold a valid registration certificate under the IDM program.
be incorporated under the Corporations Act or an Act of the Parliament of Canada or another Canadian province,

Application Steps:

The application process is a two part process:

first apply for a registration certificate as an eligible corporation. It is recommended that applications be made through the NL Film Development Corporation (part I application form),

apply to the Minister of Finance for a tax credit certificate within 18 months of the end of each taxation year (part II application form),

file the T2 return.

Documentation Needed:

Applicants must submit the following with the Part I application:

incorporating documents, including any subsequent amendments since incorporation,
copy of Corporate Income Tax Return (T2) Schedules 9, 23 and 50 (Required when the corporation is associated with any other corporation,
corporate chart, if the corporation conducts business with non-arm’s length corporations,
description of the project, including: technical specifications, product documentation, storyboard, interactive features, images, text and sound,
development timeline,
list of estimated eligible salaries,
list of estimated eligible remuneration,
detailed list of estimated product costs,
financial statements for the preceding taxation year.

Applicants must submit the following with the Part II application:

financial statements for the taxation year in which the credit is being claimed,
individual declaration of residency forms to support Schedule B (Eligible Salaries),
statement of eligible remuneration form to support Schedule C (Statement of Remuneration),
workplace health and safety compensation commission of Newfoundland and Labrador annual employer payroll statement for the taxation year,
proof of payment for eligible remuneration paid within 60 days after the end of the taxation year as indicated in Schedule C.

Other Things to Note:

No other details available.

Program Contact:

Newfoundland and Labrador Interactive Digital Media (IDM) Tax Credit

Interactive Digital Media Tax Credit Registration Form (PART I)

Interactive Digital Media Tax Credit Certificate Application (PART II)

Newfoundland and Labrador Interactive Digital Media (IDM) Tax Credit – Guidelines

Atlantic Innovation Fund (AIF)

Amount:

$3,000,000.00

Type of Program:

Grants & Loan

Description:

The Atlantic Innovation Fund (AIF) is helping Atlantic Canada compete at home and abroad by supporting the development of innovative products and services that lead to commercial success. AIF helps researchers and innovative businesses team up to develop new products and services and put them on the market.

Comments on Funding:

Funding is up to 80% of total eligible costs for projects led by not-for-profit organizations. Contributions to not-for-profit organizations are non-repayable

Funding is up to 75% of total eligible costs for private-sector-led projects. Contributions to the private sector are conditionally repayable based on the commercial success of a project.

It should be noted that the AIF assistance for eligible building and major renovation costs would not normally exceed 30% of the costs.

Eligible costs could include wages, salaries, capital costs and other operating expenses directly related to the project. The AIF assistance for eligible building and major renovation costs would not normally exceed 30% of the costs.

Funding for innovation project ranges from $500,000 to $3 million. Innovation projects of less than $500,000 may be eligible under ACOA’s Business Development Program.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicant must be:

private-sector businesses,
universities, colleges,
non-government research institutions,
provincial Crown corporations operating in Atlantic Canada.

Application Steps:

Applicant must complete a Project Concept Template and submit it to the ACOA office nearest to them. ACOA will contact them to confirm receipt and to discuss their project.

Applicant must complete and submit the Application for Financial Assistance form, once they have discussed their project with ACOA.

Documentation Needed:

For-profit applicants must submit a completed application form and the following supporting documents:

1
incorporation documents and information on ownership names and percentage of ownership
2
fully repayable contributions up to $500,000 for up to 75% of eligible costs
3
R&D project plan, business plan and/or marketing plan,
4
supplier quotes,
5
copies of relevant permits and licenses,
6
other relevant documents (specify).

Not-for-profit applicants and other applicants must submit a completed application form and the following supporting documents:

1
constituting/ incorporating documents and list of directors/members of the board,
2
financial statements (current and last fiscal year),
3
description and mandate of the applicant, including the management and qualifications of key personnel,
4
HST rebate information (I.E. rebate rate),
5
one of the following two items is required: (R&D) project plan or detailed project description, including milestones, costs, financing, key partnerships, established evidence of support from the community,
6
supplier quotes,
7
copies of relevant permits and licenses,
8
other relevant documents (specify).

Other Things to Note:

Date modified: 2022-08-16

Program Contact:

Atlantic Innovation Fund

Application for financial assistance

Atlantic Innovation Fund: Frequently Asked Questions

APPLICATION FOR FINANCIAL ASSISTANCE

Venture Capital Fund (VCF)

Amount:

$500,000

Type of Program:

Investment

Description:

The Ventrure Capital Fund provides New Brunswick startups with the venture capital they need to rapidly grow and deliver their innovative products to customers. This investment will take the form of equity through the purchase of preferred shares, common shares or issuance of convertible debentures.
Capital raised from the Venture Capital Fund is intended to fully support a business for a 12 to 18-month period.

Comments on Funding:

Funding will take the form of seed investment (i.e., preferred shares, common shares or convertible debentures) ranging from $200,000 to $500,000 per round.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

a New Brunswick startup,
have the potential to scale rapidly;
have a minimum Viable Product;
have a novel concept or unique business model;
have domain or technical expertise in market space;
have a well-rounded management team;
have a minimum of 12-18 months of runway.

Application Steps:

Applicants must contact the Venture Capital Fund team at proposals@nbif.ca

Documentation Needed:

Applicants must submit:

a business plan,
three-year financial projections with monthly detail for the first year, and quarterly detail for the following two.

Investors would also like to see a plan towards raising additional rounds of financing, to see the milestones that will create a path that will allow you to raise larger rounds of financing at a higher valuation.

Program Contact:

Venture Capital Fund (VCF) - NBIF

Venture Capital Investment Process - NBIF

Fisheries Loan Guarantee Program

Amount:

$3,000,000

Type of Program:

Loan Guarantee

Description:

The Fisheries Loan Guarantee Program supports the development of the province's independent fish harvesting industry by providing a government guarantee on loans through local chartered banks for the construction or purchase of marine vessels and/or to purchase new engines and fishing equipment for the improvement, rebuilding or alteration of existing vessels. Loans may also be approved to refinance loans previously obtained from fish processors for fixed asset costs.

Comments on Funding:

The program offers loan guarantees for combining of enterprises up to $3 million; vessel-related items up to $2 million, and license acquisitions up to $1,5 million.
The Provincial Government’s guarantee can provide up to 100% of an outstanding loan.
Guaranteed loans are offered at the financial institution prime rate, as negotiated between the harvester and the lender, to a maximum of prime plus 2% or 2.5%, depending on the term of the loan.
10-15% down payment and adequate security are required.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

be entities, individuals or groups,
be a Canadian citizen/entity and a resident of Newfoundland and Labrador,
harvesters must be registered full time as certified by the Professional Fish Harvesters Certification Board and eligible to hold a commercial fishing license,
have a favorable credit record and demonstrate commercial viability, including the ability to repay the loan.

Application Steps:

Applicants must apply directly to the financial institution, which in turn will request the guarantee from the Provincial Government.

Documentation Needed:

Applicants must submit:

1
the Fisheries Loan Guarantee Application Form;
2
previous and current years income and expense statements (income tax returns are acceptable);
3
two years forecast of revenues and expenses;
4
details of historical and forecast revenues according to: species, volumes and price; and
5
a recent balance sheet detailing the businesses assets and liabilities, if incorporated.

Program Contact:

Fisheries Loan Guarantee Program

Fisheries Loan Guarantee Application

fisheries_loan_insert.pdf

Nova Scotia Film & Television Production Incentive Fund

Amount:

No Fixed Amount

Type of Program:

Grants & Loan

Description:

The Nova Scotia Film & Television Production Incentive Fund provides funding to facilitate the production of projects in Nova Scotia in order to support and expand the film and television production industry in Nova Scotia and to create economic value for a broad group of Nova Scotians, including, in particular, key creative positions such as Nova Scotia resident directors, writers, and principal performers.

There are two funding streams:

Stream I for 50 - 100% Nova Scotian ownership and control of production,
Stream II for less than 50% Nova Scotian ownership or control of production.

Comments on Funding:

Funding for Stream I is a base amount of 26% of all eligible Nova Scotia costs.
Funding for Stream II is a base amount of 25% of all eligible Nova Scotia Costs.

For shoots where greater than 51% of the principal photography is in a rural/non-metropolitan area, there is 2% additional funding.
For shoots of more than 30 days in Nova Scotia, there is 1% additional funding.

For both streams, there is up to 3% additional funding if the production meets the criteria for the Nova Scotia Content Incentive.
The maximum funding from this Fund payable to any project is $4 million.

When It Ends:

Ongoing

Deadline:

2026

Eligibility:

Applicants:

must have a permanent establishment in the province and be engaged primarily in the creation of film/video productions for public viewing,
must be incorporated in Nova Scotia under the Companies Act or continued as a Nova Scotia company through a Certificate of Continuance and be in good standing with the Registry of Joint Stock Companies,
must spend more than $25,000 (before HST) in Nova Scotia (Nova Scotia Spend) for the project,
must also be in good standing in all respects with NSBI (or its predecessor, Film and Creative Industries Nova Scotia), by having no outstanding or overdue reporting requirements,
for Stream I must have between 50 - 100% Nova Scotian ownership and control of production and a minimum of 50% Nova Scotians must be employed in Head of Department (HOD) positions or acceptable combination,
for Stream II must have less than 50% Nova Scotian ownership or control of production and where eight or fewer HOD positions are filled, half of the positions, rounded to the highest whole number, must be filled by Nova Scotia residents. Where nine or more HOD positions are filled, a minimum of four (4) must be filled by Nova Scotia residents.

Application Steps:

Applicants:

must sign up and create an account on Nova Scotia's online service for business.

must complete the online form, upload all submission materials, and pay the non-refundable application charge of $287.50 (including HST).

will receive a confirmation email upon submission of the online application form. Incomplete submissions will be returned.

Documentation Needed:

Applicants must:

provide written evidence of a Commercial License Agreement and evidence of 75% confirmed financing for projects with budgets of $1 million or greater, and evidence of 50% confirmed financing for projects under $1 million, if seeking production funding.
provide documentation that adequately demonstrates in the opinion of the Administrator the funds available to the production.
document all approved incentives in an Incentive Agreement between the Administrator and the Applicant, and incentives must be used for the purposes outlined in the Incentive Agreement.

Program Contact:

Nova Scotia Film & Television Production Incentive Fund

Updated Guidelines Feb 2021