Form T2 Schedule 388 Manitoba Film and Video Production Tax Credit (2012 and Later Tax Years) - Canada

Form T2 Schedule 388 is used in Canada for claiming the Manitoba Film and Video Production Tax Credit. This tax credit is for eligible corporations engaged in film and video production activities in Manitoba, specifically for the 2012 and later tax years.

The production company that qualifies for the Manitoba Film and Video Production Tax Credit would file the Form T2 Schedule 388 in Canada.

FAQ

Q: What is Form T2 Schedule 388?
A: Form T2 Schedule 388 is a tax form in Canada specifically for claiming the Manitoba Film and Video Production Tax Credit.

Q: Who can use Form T2 Schedule 388?
A: This form is used by companies or individuals involved in film and video production in Manitoba, Canada.

Q: What is the purpose of the Manitoba Film and Video Production Tax Credit?
A: The purpose of this tax credit is to encourage and support the film and video production industry in Manitoba.

Q: What are the eligibility requirements for claiming this tax credit?
A: To be eligible, the production must meet certain criteria, including being certified by Manitoba Film and Music and fulfilling the prescribed requirements.

Q: When should Form T2 Schedule 388 be filed?
A: This form should be filed along with the T2 Corporation Income Tax Return, within six months after the tax year-end of the production.

Q: What expenses can be claimed on Form T2 Schedule 388?
A: Expenses related to qualifying Manitoba film and video productions, such as labor, equipment rentals, and post-production costs, can be claimed on this form.