BREAKING FILM NEWS

Tuesday, June 30, 2009

Ontario Liberals Sweeten Film Tax Credits...

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According to reports, the Ontario Liberal government will now allow a 25 per cent tax credit for the overall budget of films shot in the province.

The 25 per cent credit had previously applied only to labour costs, usually half the cost of a production.

The purchase of props, rental of studios and equipment can now be covered under the new measure.

A 35 per cent Ontario Film and Television Tax Credit for labour costs for productions that qualify as domestic, will be made permanent.

Film and TV production reportedly generates $2 billion annually for the Ontario economy, creating 276,000 jobs...