Announced yesterday BC Film will be extending its Film Incentive Tax Credit to all Canadian controlled corporations as opposed to just BC controlled companies. The proposed changes will be in effect for productions starting principal photography after December 31, 2008.
Canadian corporations will soon be able to access tax credits ranging from 35% to 68.5% (with additional credits for Training) of qualified BC labour expenditures. Currently through the Production Service Tax Credit non-BC companies can access tax credits ranging form 25% to 52% of qualified BC labour.
Good news for the BC Film and Television industry.