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Refundable tax credit for Film and Television Production Services

Montreal, June 6th 2014 - Following the tabling of the new Quebec budget on Wednesday June 4th 2014, the Quebec Film and Television Council wishes to inform its clients of the following changes to the Refundable Production Service Tax Credit : 
 

  • The rate of the basic tax credit will be 20%; down from 25% ;
  • The rate of the tax credit bonus for Green-screen, Visual Effects and computer animation will be 16%; down from 20% ;
  • Including the 16% Federal labor tax credit, the maximum Refundable Tax Credit is now at 38.4%for live-action productions and at 46%for visual effects & digital animation. 

Quebec remains one of the most advantageous filming jurisdictions in all of North America and the world.
 

 Comparative tax credit chart


Jurisdiction Production % VFX % Jurisdiction Production % VFX %
Quebec 38.4 46 Louisiana 33.5 33.5
Ontario 44 45 New York 30 0
Vancouver 31 41 France 13 13
London 21.75 21.75 New Zealand 20 20
Australia 16.5 30 North Carolina 20 20









Furthermore, there is a grandfathering provision for projects which were sufficiently advanced as at budget date (Wednesday June 4th 2014).
Such projects should already have, detailed production specifications, agreements or contracts concerning the acquisition of film rights, agreements or contracts relating to the expected financing, final version of screenplay, and all other pertinent documentation which can demonstrate advancement of the project.

 
Producers who can demonstrate that they are sufficiently advanced at June 4, 2014 will have until august 31, 2014 to file, and be eligible for tax credit rates previous to June 4, 2014.
 

For further information you may communicate directly with the QFTC at info@qftc.ca