NABET 700 CEP | What's New - Gemini Nominations

July 1, 2009

Breaking News - Major Tax Credit

Toronto - NABET 700 CEP is delighted with the recent news that the Province of Ontario has once again stepped up to the plate and made a significant investment in the screen-based sector.

On Monday night the McGuninty government announced a sweeping change to the Ontario Production Service Tax Credit (OPSTC). Previously a labour-based tax credit, the new credit will include total Ontario spend for qualifying expenditures such as labour, equipment, studio rentals, etc..

"The McGuinty government is prepared to continue its firm and ongoing commitment to ensure Ontario remains a top jurisdiction in North America for film and television production."
-- The Honourable Dwight Duncan, Minister of Finance and Revenue

The increase comes at a critical time for the Toronto and Ontario infrastructure, as a tough economy, intense competition for film and television production work, and a fluctuating dollar have spelled a very rough patch for the sector on both the domestic and service fronts.

"Ontario continues to be the leader in providing an environment for the television and film industry to thrive and flourish. These proposed tax credit enhancements would ensure the production sector remains a vital player in Ontario's innovative economy."
-- The Honourable Aileen Carroll, Minister of Culture

"It"s extremely encouraging to see the speed with which the Provincial Government has reacted to this situation. Although this is specifically a service credit, it will have a terrific impact on our domestic sector as well", said NABET 700 CEP President Jonathan Ahee.

Congratulations to FilmOntario for all its diligent work in helping to bring this most positive development to fruition.

NABET 700 CEP represents over 1,000 of Toronto's Film Technicians.

Back to What's New