Ontario Creates and the Canada Revenue Agency (CRA) – Ontario Book Publishing Tax Credit (2022)
The Ontario book publishing tax credit is a refundable tax credit of 30% on the qualifying expenditures incurred during a tax year for an eligible literary work, by an Ontario book publishing company, up to a maximum credit of $30,000 per work.
Comments on Funding:
Funding is a 30% refundable tax credit up to $30,000 per literary work
The applicant must:
The applicant must:
1 apply via the Ontario Creates Online Application Portal (OAP) for a certificate of eligibility,
2 pay the administration fee at the time the OBPTC application is submitted;
3 file the certificate of eligibility (or copy) and a completed Schedule 564, Ontario Book Publishing Tax Credit together with the tax return in order to claim the Ontario Book Publishing Tax Credit.
- The administration fee is calculated as 0.15% of the Total Estimated Eligible Expenditures for the application. The minimum fee is $50 and the maximum fee is $200 per literary work.
- There is an additional filing fee of $100 applied per literary work to applications for Certificates of Eligibility received more than 24 months after the first year-end of the claim.
- An amended Certificate of Eligibility replaces any Certificate of Eligibility previously issued. There is a fee of $100 for each amended Certificate of Eligibility.
To claim the credit, the following documentation is needed:
The applicant must submit to Ontario Creates the following documents via the Online Application Portal (OAP):
- Applicant Declaration completed and signed by an authorized signing officer (officer and/or director) of the book publishing company;
- Incorporation documents for the qualifying corporation;
- All applicable financial statements for the qualifying book publisher;
- List of book publishing applicant company’s shareholders or corporate chart for the fiscal year;
- Previous year’s catalogue(s);
- Current year’s catalogue(s);
- Book publishing Company’s distribution agreement;
- Book publishing Company’s contract with the author(s);
- Declaration of Citizenship & Residency for author(s), completed, signed and dated;
- Printer’s invoice;
- Book in digital format (such as an EPUB or PDF file).
All documentation or information received from an applicant is subject to the confidentiality provisions of the Taxation Act and will be maintained in strictest confidence by Ontario Creates, the Ministry of Finance and the Canada Revenue Agency.
Other Things to Note:
For further details please contact Phil Caldwell, Senior Project Manager, Urban Renewal at 905-546-2424 ext. 2359.
When It Ends: