Nova Scotia Film industry tax credit cut from 100 per cent refundable to 25 per cent refundable as of July 1, 2015

By Rebecca David

The numbers are in, folks.

• $24 million for the Film Industry Tax Credit

• The Film Industry Tax Credit will change from one that is fully refundable to one that is 25 per cent refundable.

• The remaining 75 per cent of the eligible tax credit will be provided as a non-refundable credit, available to film companies against the taxes they owe in Nova Scotia.

(source)

Bonus articles:

“Film and Creative Industries Nova Scotia absorbed into Nova Scotia Business Inc.””

CBC :  http://www.cbc.ca/news/canada/nova-scotia/nova-scotia-budget-winners-and-losers-1.3026521

 “the government says the credit will be reduced to $6 million next year, a move it concedes will make the province less competitive with most other jurisdictions.”

Global News : http://globalnews.ca/news/1929677/nova-scotia-forecasts-98m-deficit-will-cut-film-tax-credit-next-year/

4 Responses to “Nova Scotia Film industry tax credit cut from 100 per cent refundable to 25 per cent refundable as of July 1, 2015”

  1. rob

    And the exodus shall begin…

    #73336
  2. Torontonian

    You should specify in the article title that this pertains to Nova Scotia. When it popped up in my news feed I didn’t fully understand whether this is a federal tax credit or a specific province, until I saw Nova Scotia mentioned further down and dug back to the preceding post about the Nova Scotia budget. Just a thought.

    #73345

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