TORONTO - After months of intense lobbying by the production industry Ontario's Liberal government has announced an increase in the labour-based tax credits for the domestic and service film and television production industry.
The Ontario Film and Television Tax Credit, for domestic productions, will increase from 20% to 30%, plus a regional 10% bonus; the Ontario Production Services Tax Credit, for foreign location shooting, will increase from 11% to 18%. There will be no caps on the labour costs which is considered a huge win for the industry.
"We are thrilled that the McGuinty government has kept its election promise to give a boost to the film and television production industry," says Guy Mayson, CEO and president of the Canadian Film and Television Production Association. "Congratulations must also go out to everyone who worked hard to make our case heard at Queen's Park, including, the CFTPA's Ontario Producers Panel, FilmOntario and ACTRA," said Mayson.
"Now more than ever, the industry has to stick together if we're going to remain successful and to keep production flowing in Ontario," says Scott Garvie, co-chair of the CFTPA's Ontario Producers Panel.
The CFTPA is a non-profit, trade association representing almost 400 companies involved in the Canadian production industry. The association promotes the general interests of Canadian producers by lobbying government on policy matters, negotiating labour agreements, and offering mentorship programs and copyright initiatives.
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