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If you didn’t catch the press release or the report in the Globe, Star
and Post, here is a summary of a newly announced Ontario Tax Rebate.

INTELLECTUAL PROPERTY (IP) FUND

The Ontario Budget of March 26, 2009 announced that the Provincial
Government would “invest $10 million in a pilot program, administered
through OMDC, that would refund a portion of the costs associated with
intellectual property development to Ontario-based companies in the
screen-based industries”.

WHO CAN APPLY

Canadian controlled companies in Ontario with a proven track record in
the business of creating screen-based content products in Ontario for at
least one year prior to the year of application to the fund may apply
for expenditures incurred on or after April 1, 2009 and up to and
including March 31, 2010. Companies can apply up to twice: at their
fiscal year end, and once at a time of their choosing.

IP FUND INFORMATION
The rebate will be calculated at 30% of eligible costs up to a cap of
$150,000 for the span of the pilot program.

IP FUND ELIGIBLE ACTIVITIES
• The IP Fund is designed to assist qualifying Ontario corporations by
providing a partial refund of costs incurred for eligible early stage
development activities for screen-based content properties including:
o optioning or acquiring story rights;
o concept, story and character creation;
o creation of game design and technical specification documentation;
o research for script and story purposes; creation of prototypes.

Go to the OMDC on December 14th for details and the guidelines. You can
bet there will be a rush of applications, don’t delay.

Here is the OMDC site: www.omdc.on.ca