'PRODUCTION SERVICES' Tax Credits

  • Stable, reliable & financeable through CFC
  • 100% refundable - no brokering required

'PRODUCTION SERVICES' Tax Credits

  • No annual funding caps
  • No caps per Production
  • No salary caps
  • No sunset clauses or expiry dates

'PRODUCTION SERVICES' Tax Credits

  • No 'minimum spend in Canada' test
  • No Canadian filming/shooting days required
    -Both 'Post-Production-only'&'VFX-only' costs are eligible

'PRODUCTION SERVICES' Tax Credits

  • No Canadian 'cultural' tests
  • Non-Canadian entity can hold copyright

Canadian Content tax credits

  • Stable, reliable and bankable
  • 100% refundable - no brokering required

Nova Scotia announced a change to the structure of its tax credits in the 2015-2016 Budget this week.  Effective July 1, 2015, the tax credits will change from fully refundable to 25 % refundable.  The remaining 75 % of the tax credit will now be non-refundable, and will be available for use as a tax offset for those companies owing income taxes in Nova Scotia.

 Read the bulletin here:  http://www.novascotia.ca/finance/site-finance/media/finance/budget2015/Tax_System_Bulletin.pdf

 

Posted: 4/9/2015 12:00:00 AM by | with 0 comments

Quebec has confirmed that the production services tax credit rates will remain the same for the full 2015-2016 fiscal year.  Quebec cited several reasons for this commitment, which included the positive impact that foreign productions have had on the Quebec domestic film production industry.

Read the budget here:  http://www.budget.finances.gouv.qc.ca/budget/2015-2016/en/documents/BudgetPlan.pdf  

Posted: 3/26/2015 12:00:00 AM by | with 0 comments

Under the current tax credit legislation, the Ontario services tax credit is available on those qualifying costs incurred “for the stages of production from the final script stage to the end of post-production”.  

On March 19, 2015, the Ontario Superior Court ruled and confirmed that costs incurred during the “final script stage” (which includes writer’s fees) should qualify for tax credits. The court found that costs incurred during the final script stage were being occurred after the time that is referred to as “from the final script stage”.

The ruling applies to the Ontario production services tax credit, however, as the same language is used in the legislation of the federal and BC production services credit programs, the ruling is also expected to apply to these programs.

CFC will carefully monitor how governments react to this case. 

Posted: 3/23/2015 12:00:00 AM by | with 0 comments

Last Spring, the Quebec government formed the “Quebec Taxation Review Committee” to analyze, and propose reforms of the Quebec taxation system.  It was referred to as the Godbout Commission, and was released last week.

The commission’s report was supportive of the tax credit program for domestic productions, however recommended abolishing the production services tax credit program over five years, starting in 2020.  

The Commission's recommendations are not binding, and the Quebec government is free to accept or reject any of the Commission's recommendations. 

Read the report here: http://www.examenfiscalite.gouv.qc.ca/publications/versions-anglaises/

Posted: 3/23/2015 12:00:00 AM by | with 0 comments
Canada Media Fund (CMF), Telefilm Canada and the Canadian Media Production Association (CMPA) have created eyeoncanada.ca, a new website devoted to film, television and digital media created by Canadians.  The website allows users to learn about available Canadian productions by seeing the titles and reviewing video clips. 
Check out the website here.
Posted: 3/4/2015 10:44:30 AM by | with 0 comments