Ontario Liberals Boosting Film/TV Tax Credits but feds grind policy still in place... December 18th 2007 08:22am | Posted by: Michael Stevens, HNR Senior Editor HNR/Sneak Peek's Michael Stevens reporting from Toronto... Ontario Finance Minister Dwight Duncan has announced that the 'Ontario Film and Television Tax Credit' for domestic producers, would increase from 30 to 35 per cent and the 'Ontario Production Services Tax Credit' benefitting foreign production, will rise from 18 to 25 per cent. The boost comes just in time for FilmPort, a new film studio complex on the Toronto waterfront set to open March 31. Traditionally US studios make decisions about film production in January, February, with many of the majors currently greenlighting features to stockpile in anticipation of a possible Screen Actors Guild strike in June. Although the increased tax credits shows foresight on the part of the Ontario Liberal government, the Conservative feds still have in place their 'grind' policy, which reduces federal tax credits when provincial governments increase theirs... Source: SneakPeek.Ca In: Ontario & Quebec News |Visit the HNR Forums

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