The Canada Revenue Agency (CRA) has shared important information related to the Film and Media Tax Credits Program during the COVID-19 crisis. Read the full announcement from the CRA below.

The Canadian film industry is an important contributor to the economic and cultural well being of Canada. We recognize the vital role that the Film and Media Tax Credits (FMTC) Program plays in supporting a vibrant film industry and we are doing everything we can to ensure that businesses receive their credits as soon as possible during these difficult times.

The Canada Revenue Agency (CRA) is adjusting its priority activities to support the economic well-being of Canadians and Canadian businesses. This includes programs like FMTC.

Given the exceptional situation that is currently affecting us all, we are doing everything we can to ensure that claimants receive the credits they are entitled to as quickly as possible, and that the auditors of the FMTC Program receive the support and guidance necessary to prioritize the processing of claims. Here are some measures the CRA is implementing:

• Most claims will be processed as soon as possible with minimal burden on the claimants, injecting funding into businesses that need it now to help manage the adverse financial implications of the pandemic. Please note that claims accepted at this time could be subject to audit at a future date.
• Currently, the CRA will generally not contact businesses to initiate audits until further notice. This pause is reflective of the CRA’s efforts to mitigate health risks and minimize the burden on businesses, while concentrating on prioritizing the delivery of benefits to Canadians during this challenging time.
• Any taxpayer who’s claim is under audit who wishes or needs their audit to proceed may contact their auditor by telephone or through My Business Account to advance the file as much as possible under the current circumstances.
• If you have questions about the status of your FMTC claim, we continue to be available to help. Please contact the film services unit in your area.
• Should you have questions on other topics such as filing and payment deadlines and proactive relief measures, the CRA’s liaison officers will be available exclusively by phone to provide the key information that small businesses and self-employed individuals need most urgently. Business owners and self-employed individuals can fill out the Liaison Officer Service request form to have a liaison officer contact them by phone.

We thank you all for your patience as we navigate through this situation together. To learn more about how the CRA is helping Canadians with the economic impact of the COVID-19 Pandemic, go to Changes to taxes and benefits: CRA and COVID-19.

For general information on the FMTC Program, go to www.canada.ca/taxes-film.

Contact your DMCL advisor if you have any questions about this program.