Funding the Internet of Things: Ontario Interactive Digital Media Tax Credits
This session in our "Funding the Internet of Things" series will focus on Ontario's Interactive Digital Media Tax Credit (OIDMTC) program. If you are currently planning or working on a project that includes text, sound or images come and find out more about how you can recover up to 40% of your labour expenditures from this program! The session will cover what kinds of projects qualify, the application process and tips and tricks to help you access these programs.
Our speaker for this session is Bob Waterworth, Associate Partner with KPMG's Tax Practice focused on R&D Tax Incentives. Bob will share his extensive experience and insights and answer your questions. Join us for this interactive discussion and meet others in the community working on their own projects.
The OIDMTC website outlines eligible projects which include:
"interactive digital media product whose primary purpose is to educate, inform, or entertain, and that achieves its primary purpose by presenting information in at least two of: (i)text, (ii)sound and (iii) images. Types of interactive digital media products that may be eligible for the tax credit include but are not restricted to games, educational and informational products. "
For many of our partners tax credit programs are a crucial part of their funding strategy for new initiatives and many of our prototype projects easily qualify under the above definition. Come and find out more about how to access and effectively use these programs to fund your project!
To find out more about this program please see: http://www.omdc.on.ca/Page3400.aspx
About the presenter:
BOB WATERWORTH, CA
Partner, KPMG LLP
PRACTICE AREA: R&D Tax Incentives Practice (Toronto)
Bob has been involved with a wide variety of clients during his 19 years with KPMG. Bob is a partner and leads a team of 5 full-time financial professionals in KPMG’s R&D Tax Incentives practice. The practice consists of over 20 full-time professionals that include engineers, scientists, accountants and tax professionals. The practice has extensive contacts within all government agencies and has an excellent track record in R&D incentives obtained. Bob has been in the R&D tax incentive program since 2003. In addition to being responsible for all of the financial aspects of the R&D Tax Incentives practice, his role also includes Project Management from start to finish on all large, complex claims as well as the performance of various R&D tax provision and due diligence assignments.
Prior to joining R&D Tax Incentives practice, Bob worked on a wide variety of clients in KPMG’s Industrial & Automotive Products group. He provided corporate tax planning and compliance advice for numerous national and multinational companies. Bob’s experience also includes an emphasis on all aspects of project management for a diverse set of large and complex, steps-oriented projects geared at personal and corporate tax savings strategies.
Bob has attended various conferences and seminars including Canada Revenue Agency forums, local Chartered Accountant district meetings and has been a speaker at numerous internal KPMG information sessions as well as the KPMG National Tax Conference.
Bob was a teaching assistant at the undergraduate level of Wilfrid Laurier University’s Honours Bachelor of Business Administration program.
When & Where
The ThingTank Lab is an open, community based collaborative ideation lab. This ideation lab is a place where the exploration, experimentation, and exchange of ideas are developed towards the building of “things”. The things our lab is most interested in are those emerging through the continuing revolution of data driven goods and services, what is notionally discussed as being the “Internet of things”. The next generation of digital content products and services have distributed and diverse modes of interaction where websites and mobile content will be only one aspect of the user’s experience: smart meters or wearable electronics, for example, connect the real world of objects to online digital networks of data. These digitally enabled networked objects are the Internet of Things.
The lab is fundamentally an interdisciplinary facilitating community. It is the place where the next generation of ideas comes from. Its activities include academics and people from private enterprise as well as sponsoring organizations interested in alternative pre-competitive techniques of idea generation related to building things (and their networks) that address real world problems.