Ontario announces tax credit enhancements

June 30, 2009 The Ontario government announced last night its proposal to "expand the Ontario Production Services Tax Credit to incorporate all qualifying production costs incurred in Ontario, including qualifying labour costs as well as the purchase or rental of qualifying tangible properties, such as equipment and studio rentals."

The proposal would cover expenditures incurred after June 30, 2009.

For further details, click here

News release from the Ministry of Finance

Québec moves to an all-spend tax credit base

June 12, 2009 In an effort to attract foreign producers, Québec has broadened the base of its 25 % tax credit to include all qualified production costs in Québec. Both qualified labour costs as well as costs related to the acquisition or rental of tangible qualified properties will be eligible for the production services tax credit.  Québec’s VFX credit base has also been broadened; the VFX tax credit rate is now 5% of all VFX production costs incurred in Quebec.

For further details, click here

Press release from the Ministry of Finance