Source : Globe & Mail
Toronto -- Ontario is extending a tax credit for foreign film productions in an effort to get more pictures rolling in the province.
Culture Minister Madeleine Meilleur announced today that the 18 per cent tax credit for foreign productions is being extended for another year, until March 31, 2007.
Meilleur says this will ensure Ontario remains competitive and can boost the number of movies and television programs filmed in the province. Meilleur says the film and television industry brought $934-million to Ontario's economy in the past year.
The change came after complaints from Ontario film companies that the province was losing productions to British Columbia, Quebec and the United States because of lower film tax credits and the high Canadian dollar. CP
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