ANNOUCEMENT: BC Tax Credits for Film and Interactive Digital Media

by Kenji Maeda on February 3, 2010

Post image for ANNOUCEMENT: BC Tax Credits for Film and Interactive Digital Media

Yesterday we wrote about the recent call out from the NDP and Shawn Williamson of Brightlight Pictures to the provincial government to do something to keep the BC Film industry competitive.

Today Finance Minister Colin Hansen announced a proposal to make that happen.  If it’s approved by the legislature this would help to compete with the provinces, like Ontario, where their tax credits won over productions that were once aimed to come to BC.

Here are the specific proposals taken from their news release:

Subject to approval by the legislature, the planned tax measures include:

  • New BC Interactive Digital Media tax credit for video game development of 17.5 per cent of qualifying B.C. labour costs.
  • Production Services Tax Credit on labour costs for foreign productions increased to 33 per cent from 25 per cent.
  • Digital Animation or Visual Effects tax credit bonus increased to 17.5 per cent from 15 per cent.
  • Qualified B.C. labour expenditures cap increased to 60 per cent from 48 per cent of production costs.

If all goes as planned, film tax credits will be available for productions with the principal photography start date after Feb 28 2010. The BC Interactive Digital Media tax credit will being after Aug 31 2010.

So the question is… will this tax credit be enough to boost up our industry? I guess we’ll see.

Leave a Comment


Previous post:

Next post:

Visit us on Facebook! Follow us on Twitter! Follow us through RSS!