On April 30, 2024, the Canadian Live Music Association (CLMA) announced the launch of Hear and Now: Understanding the Economic Power and Potential of Canada’s Live Music Industry. This offering marks the first-ever Economic Impact Assessment (EIA) of the live music...
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New Film Tax Credit Rates give Industry Certainty and Protect Taxpayers
The Province announced in the February budget it would establish an industry-government working group with representatives from the film and television industry. These meetings helped the Province understand the industry’s perspectives and provided an opportunity to discuss potential options.
Subject to the approval of the legislature and the implementation of the necessary regulations, for principal photography beginning on or after Oct 1, 2016, the basic production services tax credit rate will be set at 28%, down from 33%, and the digital animation or visual effects (DAVE) tax credit rate will be set at 16%, down from 17.5%.
The Province is providing a transitional period to recognize the investments already planned for British Columbia. For example, the amendments will allow all episodes in one season of a television series to continue at the current tax credit rates if principal photography for the first episode begins prior to Oct 1, 2016.
To read the full press release.
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