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Alberta to Eliminate Digital Media Tax Credit

If you’ve ever wondered why so many gaming developers and publishers have studios in Canada, it’s because of various forms of government support given to these companies to create jobs. Various levels of government have provided funding to companies in the forms of loans, grants and tax breaks.

One province that just put some more skin in the game to promote gaming and similar digital industries has just gotten right out of it. The recently elected government of Alberta has announced that their upcoming provincial budget will eliminate the province’s Interactive Digital Media Tax Credit which might leave some current and future plans for developers in the province in question.

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Bitcoin Transactions are Taxable in Canada

one-bitcoinApril 30th is the deadline to file your personal income tax return in Canada. If you haven’t filed your taxes yet (and aren’t self-employed), you might want to get that taken care of but should take note of the latest tax edict from Canada Revenue Agency.

In response to an inquiry by the Canadian Broadcasting Corporation about it, the CRA has said that just because Bitcoin purchases and sales are done online doesn’t mean that they are exempt from tax. The use of bitcoins are considered taxable by Canada’s tax authority.

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