B.C. movie tax breaks under scrutiny

Finance Minister Mike de Jong says low Canadian dollar accelerating cost of generous labour tax credit for film and TV production

B.C.’s tax credits to the movie industry are rising rapidly as the low Canadian dollar attracts more productions to the province, and Finance Minister Mike de Jong has ordered a review.

“The sector is having a record-breaking year and that’s all good news for the people involved,” de Jong said. “But the way the tax credit is structured, we see the amount being paid out increasing exponentially. It’s set to cross the half billion-dollar mark.”

The review is to take place within the next two months, including consultation with B.C. production companies. B.C. offers a refundable tax credit for one third of labour costs for movies, TV and digital media production.

The current box-office hit Deadpool is the latest of 20th Century Fox’s X-Men series to be filmed in B.C. An earlier movie in the series was lured to Montreal by generous tax incentives, and Ontario extended its tax credits to cover 25 per cent of all spending on a project.

Most of B.C.’s industry is foreign productions, taking advantage of experienced crews, scenic locations and easy access from Hollywood. De Jong said in 2013 that Canadian provinces are “being played” by producers looking to increase tax breaks by threatening to go elsewhere.

 

Just Posted

White Rock rail forum leads to renewed calls for relocation

Upgrading safety is not enough say local politicians

McCallum says Surrey LRT communication plan close to election is ‘perceived interference’

McCallum ‘gravely concerned’ Surrey and TransLink will violate election financing rules, but city says all rules will be followed

White Rock’s Johnston Road to re-open on schedule: city

One lane in each direction expected to open by Friday at 7 p.m.

Two Surrey volleyballers set to play for Team Canada

Brianna Beamish and Kiera Van Ryk in Japan for FIVB World Championships

VIDEO: Neighbours fear impact of B.C. tent city residents

Greater Victoria residents opposed to campers voice concerns at provincial campground

Tornado touches down in Ottawa and Gatineau, Que.

Environment Canada says cars and homes have been damaged by severe thunderstorms and high wind gusts

B.C. premier apologizes for removal of 1950s totem pole at Canada-U.S. border

First Nations say pole was raised at Peace Arch but removed to make way for tourism centre

An unexpected sight: Bear spotted eating another bear in central B.C.

Cheslatta Carrier Nation Chief finds bear eating another bear’s carcass

Free vet clinic caters to pets of homeless, low income people

The first such clinic in Langley will take place later this month.

RCMP confirm death of missing BC teen Jessica Patrick

No details on cause were given. Case is under criminal investigation and police are asking for tips.

Extradition hearing set for Lower Mainland developer accused of fraud

Mark Chandler will go before the B.C. Court of Appeals early next year.

CUTENESS OVERLOAD: 2 sea otters hold hands at the Vancouver Aquarium

Holding hands is a common – and adorable – way for otters to stay safe in the water

B.C. teen with autism a talented guitarist

Farley Mifsud is gaining fans with every performance

Most Read