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

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/

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