Ontario Production Services Tax Credit (OPSTC): Ontario Ministry of Finance Announces Additional Details Regarding Proposed Enhancements to the OPSTC
On September 10, 2009 the Ontario Ministry of Finance released the Bulletin entitled “Bulletin: Proposed Enhancements to the Ontario Production Services Tax Credit (OPSTC)”. The Bulletin provides additional details with respect to the June 29, 2009 announcement of the Ontario government regarding an expansion of the base of the OPSTC to include both labour and non-labour related expenditures. According to the Ministry, it is not intended as a substitute for any relevant legislation or regulations and the proposed enhancements to the OPSTC described in the Bulletin will be implemented through amendments to the Taxation Act, 2007 (Ontario) which, when enacted, will be retroactive for all qualifying production expenditures which are incurred after June 30, 2009.
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