 | Ontario Announces Increases to the Ontario Production Services Tax Credit and the Ontario Film and Television Tax Credit |
December-21-2004
| Lawyer | David Zitzerman |
| Area | Entertainment |
Summary
On December 21, 2004, the Ontario Minister of Finance, the Honourable Greg Sorbara and the Ontario Minister of Culture, the Honourable Madeline Meilleur, on behalf of the Ontario Government, announced the following respective increases to the rates of the Ontario Production Service Tax Credit for foreign productions and the Ontario Film and Television Credit for domestic productions:
1. An increase in the rate of the Ontario Production Services Tax Credit from 11% to 18% of eligible Ontario labour costs, subject to review at the end of 2005, and
2. An increase in the rate of the Ontario Film and Television Tax Credit from 20% to 30% of eligible Ontario labour costs for five years and a continuation of the 10% regional bonus to the credit.
