Northern B.C. Film Commission Pleased With Tax Credit Decision

Friday, January 20, 2006 04:38 PM

The Provincial government has announced it will keep film production tax credits at their enhanced rates until 2008.

Finance Minister Carole Taylor says the Production Services Tax Credit would remain at 18 per cent and the basic Film Incentive B.C. tax credit would remain at 30 per cent.

That's good news to Northern B.C.Film Commissioner Karen Cameron "This will maintain B.C.'s competitiveness, nationally and internationally." She adds "Without the tax incentives, we aren't even on the radar".

Cameron says Canada was the first to create these kinds of incentives and the rest of the world has followed suite. "It's not even so much about the locations anymore, " says Cameron "The first thing producers want to know is what kind of financial incentives are being offered, and that can run from tax incentives, to reduced hotel rates. If you can give them a deal, then they will take the time to see what kind of locations you can provide."

Cameron is thankful the Provincial government has shown continued support for the film industry. "There has been a lot of work done over the past 25 years to develop a solid film industry in B.C. It would have been a shame to have lost that over reduced tax breaks."

It is estimated that for every dollar a film production spends in a community, another $1.87 is added to the local economy.

The Province will review the tax incentives again in 2007.

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Posted on Friday, January 20, 2006 04:38 PM in News by 250 News

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Comments

Posted by: Gofaster on January 20 2006 6:19 PM

Oh sure, lets give the Americans more breaks and more of our money and assets. What else is the BC Government going to give away on us?

Posted by: Percy on January 20 2006 11:19 PM

Thankfully, someone in government has some understanding of what it takes to attract business to this province. The resulting employment far exceeds a few dollars of tax credits the government offers to attract business to this province.

If you don't know where the money comes from, you will never understand it or get it. Percy

Posted by: acrider54 on January 21 2006 5:56 AM

I wish I could get a tax credit. All my taxes just keep going up. I guess that is required to subsidize all the wealthy corporations.

Posted by: Percy on January 21 2006 4:45 PM

If you donate over $250 to registered charitable organizations, you qualify for a 29% tax credit.

If you donate to a political party, you will also qualify for a tax credit. A sweet one too.

If you invest in a Labour Sponsored Fund in BC, you will also qualify for a 15% BC tax credit and also a 15% Federal Tax Credit.

These are all available the average working taxpayer. So, not all is lost. Percy

Posted by: diplomat on January 21 2006 6:15 PM

>"All my taxes just keep going up. I guess that is required to subsidize all the wealthy corporations."<

Just recently Ford Canada, GM Canada, DaimlerChrysler Canada and just now Toyota Canada all got grants and tax incentives in the hundreds of millions each to maintain or expand manufacturing plants in Canada!

CAW union boss Buzz Hargrove was very pleased and so are the workers who he represents.

If they don't get these goodies they simply go to another country where they do.

Everybody plays the same game. We may not like it or agree with it, but that is how it works in the real world.

Even an NDP government in Ottawa would have to do the same thing, notwithstanding present party policy and promises.