Canada: Tax credit extensions (British Columbia)
Budget implementation bill includes several individual (personal) and indirect tax measures
Budget implementation bill includes several individual and indirect tax measures
British Columbia's budget implementation bill (Bill 4) includes several individual (personal) and indirect tax measures as announced in the province’s budget.
Corporate income tax measures
Bill 4 includes several previously announced corporate income tax measures, including an extension of the book publishing tax credit by five years to 31 March 2026 (from 2021).
There are also measures to extend deadlines for certain tax credit claims originally due on or after 13 March 2020 to the earlier of (1) six months from the original due date or (2) 31 December 31, 2020. This extension applies to the:
- Scientific research and experimental development tax credit
- Book publishing tax credit
- Film and television tax credit
- Interactive digital media tax credit
- Mining exploration tax credits for corporate and individual income tax
- Production services tax credit
- Training tax credit for employers
Read an April 2021 report prepared by the KPMG member firm in Canada
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