Manitoba enhances film tax credit program
By CO Staff @canadaone | July 3, 2007
MB - Changes to the Film Tax Credit program will help eligible companies receive their tax credits sooner and with greater ease.
The changes, which are retroactive to April 1, 2007, offer the following two enhancements:
- Streamlined administration means that the provincial credit and federal credits will be administered at the same time.
- Multi-year productions will be able to apply for partial credits after the first year of production rather than waiting until the project is complete. This is expected to reduce interim financing charges.
With the combination of federal and provincial applications, the program will now be co-administered by Manitoba Film and Sound and the Canada Revenue Agency (CRA).
"The new enhancements follow other recent improvements to the program including a frequent filming bonus, a rural and northern bonus, and the removal of the tax credit restriction on companies that are affiliated with corporations that hold CRTC broadcast licences," said Finance Minister Greg Selinger. "As well, the province has recently extended the program for three years until 2010."
"These enhancements to the Manitoba tax credit program were implemented in response to the film industry's request to streamline the review process," said Manitoba Film & Sound CEO Carole Vivier. "Manitoba Film & Sound truly appreciates the government's continued support of Manitoba's film and television production."
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