The world of digital media and gaming is dynamic, and companies operating in this space that want a competitive advantage must understand the value of government incentive programs. The Interactive Digital Media (IDM) tax credit is one such program that offers tremendous support to businesses in eligible jurisdications, and Venbridge is here to help you make the most of it. So, why do companies choose Venbridge over competitors for IDM financing? Let us explain…
IDM Tax Credits Across Canada
Interactive Digital Media tax credits are valuable for businesses in select Canadian provinces, offering significant financial support to digital media and gaming companies. These tax credits are designed to foster innovation and provide a competitive edge to Canadian digital media companies. The availability and terms of IDM tax credits vary by province. Here’s a snapshot of what each province offers:
- British Columbia: Offers 17.5% of eligible salary and wages incurred in the tax year.
- Ontario: Provides 40% of expenditures, including marketing and distribution, and offers 35% of spending for products developed under a fee-for-service arrangement.
- Newfoundland and Labrador: Provides 40% of qualifying expenses, including eligible salaries and 65% of eligible remuneration.
- Quebec: Offers 37.5% of qualified labour expenditures.
- Nova Scotia: Provides a combination of percentages from 50-65%.
- Manitoba: Offers 40% of eligible project costs or 35% of eligible labour costs for the year.
How IDM Tax Credit Financing Works
Venbridge’s founder-friendly, non-dilutive IDM financing is designed with your success in mind. The process is straightforward with Venbridge.
We take pride in cultivating valuable and lasting partnerships with our clients rather than treating them as mere transactions. We understand that the Interactive Digital Media tax credit can be a game-changer for companies in the digital media industry, and we go the extra mile to ensure your success.
Our commitment to fostering strong relationships doesn’t end with financing; we offer comprehensive support. By collaborating with Venbridge, you can access a vast network of resources and expertise. Businesses often combine their IDM tax credit with other valuable tax credits like the Scientific Research and Experimental Development (SR&ED) program to maximize their benefits. Venbridge makes these connections seamless, leveraging our extensive network of SR&ED consultants who can provide expert guidance.
Our collaborative approach means that we don’t just provide funding – we facilitate introductions to venture capital firms and banks, helping you explore additional growth opportunities and expand your horizons in the digital media landscape. We believe true success is built on strong partnerships; we’re committed to being more than just a financing provider. We’re your trusted ally on your journey to accelerate your business!
Ready to Partner with Venbridge?
Digital media and gaming companies across Canada leverage the Interactive Digital Media tax credit to advance their projects and fuel innovation. To support your growth, Venbridge offers quick access to capital. As a partner for IDM financing, we ensure that you have the funds you need when you need them.
Don’t miss out on the financial support that can help you drive your R&D projects to new heights. Finance your IDM tax credits with Venbridge today!
Contact our team to get started and discover the benefits of partnering with Venbridge.
