Apr 16, 2015 before the budget dropped, nova scotia and manitoba had the best film tax credit incentiveshighest amount of money that could be given back to productions for local spendingin canada. Faqs cedif application process nova scotia securities. The province of nova scotia is located on the easternmost coast of the canadian mainland. The datc was legislated to expire on june 30, 2020, but new legislation will be. Income tax act chapter 217 of the revised statutes, 1989. It is the one place to find all government services and information. Eastlink tv independent production fund nova scotia business inc. For credit ratings that are derived exclusively from an existing credit rating of a program, series, categoryclass of debt, support provider or primary rated entity, or that replace a previously assigned provisional rating at the same rating level, moodys publishes a rating announcement on that series, categoryclass of debt or program as a. Nova scotian productions, including newer and smaller filmmakers, will be given more opportunities and access to funding.
Film industry says deal reached on changes to nova scotia. Nova scotia legislature consolidated public statutes. On september 30, 2016, the income tax regulations for film and. Equity tax credit department of application for certificate. Members of nova scotia s film industry say cuts to a tax credit will have a devastating effect on productions in the province. We have the industrys most extensive inhouse team of production incentives, finance, and tax experts, and our knowledge of the latest legislation and local laws and regulations is unsurpassed. No one can restructure an entire industry on such short notice. Clarification on july 1st 2015 film and television production for film industry tax credit for production which started principal photography after november 30, 2010. The battle against the film industry tax credit cut isnt over.
Connected to the rest of canada by only a small strip of land, nova scotia is almost entirely surrounded by the atlantic ocean. The legislative authority for this tax credit is contained in section 37a of the income tax act nova scotia, and innovation equity tax credit regulations the regulations. Nova scotia film community tax incentive database home. Enter this amount on line 87 of your form ns428 and on line 47900 of your return. Our relationships with film offices, auditors and state revenue departments are unrivaled because we work with them more often, and on more productions.
And given peis efforts, even an anne of green gables reboot would be heading. Responsibility for the accuracy and completeness of such content lies solely with those content providers and is not guaranteed by screen nova scotia. In an effort to create jobs and stimulate local economies, many countries worldwide essentially pay productions to shoot within their borders. The nova scotia film tax credit a numbers game the globe. Each project shall utilize the regulations according to the date of when the credit allocation letter cal was. Summary of available canadian film tax credits corporate. Ndp would reinstate nova scotia film tax credit reddit. Sarah dunsworth, a costume designer and actress who has played the character of the same name on trailer park boys for 15 years, is leaving for sudbury, ont. Screen nova scotia is a notforprofit membership organization and film commission. This comprehensive guide to global production incentives asks. Film and video industry tax credit regulations under the income tax act o. Screen nova scotia released the longawaited independent study by pricewaterhousecoopers pwc yesterday on the economic impact that the nova scotia film industry had in nova scotia prior to the cuts to the film financing programs and film and creative industries last april by the liberal government of stephen mcneil. On september 30, 2016, the income tax regulations for film and television. Nova scotia film and television production incentive fund, a replacement for the.
Nova scotia provincial tax brackets, tax rates, and. Mcneils sudden decision to axe the film industry tax. Consolidated statutes of nova scotia title beginning with i. Nova scotia film industry ns television production. As a result, you can travel anywhere in nova scotia and never be more than 56 kilometres 35 miles from the ocean. Nova scotia film development corporation act see film and creative industries nova scotia act nova scotia housing commission and certain lands thereof situate at sackville in the county of halifax, an act relating to a subdivision of lands of the 1974, c. The nova scotia film industry tax credit fitc ended on june 30, 2015 for film and television production. Tax credits issued nova scotia film industry tax credit. Now that nova scotia has backed out of the race, its hooray for winniwood. These databases have been put together based on materials available on the nova scotia legislature website and the registry of regulations website. We will also make the process move at the speed of business.
The government says a positive story is coming out of the nova scotia film industry, but at least one longtime producer disagrees. Clarification on july 1st 2015 animation for film industry tax credit as of january 1, 2008 the credit rates were increased. Approved corporations must ensure that each specified issue under this program complies with the securities act nova scotia. In its spring budget, the provincial government announced thursday. Disagreement persists on state of nova scotia film. On july 1, 2015, a new nova scotia film and television production incentive fund began.
Ns reg 212020 innovation equity tax credit regulations. Nova scotia is one of canadas three maritime provinces, and one of the four provinces that form atlantic canada. The film industry tax credit is a refundable tax credit for costs directly related to the production of films in nova scotia. Apr 23, 2015 screen nova scotia and the the provinces finance department have reached an agreement on an new incentive system for the film industry in nova scotia.
Nova scotia department of finance digital media tax credit. The nova scotia government has been embroiled in a highprofile controversy for the past week following its decision to slash tax credits available to film and television production in the province. Tax credits for film and tv production a race to the. Apr 17, 2015 the nova scotia government has been embroiled in a highprofile controversy for the past week following its decision to slash tax credits available to film and television production in the province. Following recent changes to the film and tv tax credit and a warning from the head of the canada media fund, the government of nova scotia has announced a new stream in the digital media tax credit for the animation industry. Nova scotia offers the nova scotia volunteer firefighters and ground search and rescue tax credit which is a refundable credit enter this amount on line 87 of your form ns428 and on line 47900 of your return. The best countries in the world to film your movie, based. Oct 23, 2014 nova scotia introduces tax credit legislation for manufacturers.
Nova scotia department of finance tax credits issued. Before using these databases for the first time, we encourage you to read our details page. Film tax credit changes force workers to find jobs out of. Screen nova scotia released the longawaited independent study by pricewaterhousecoopers pwc yesterday on the economic impact that the nova scotia film industry had in nova scotia prior to the cuts to the film financing programs and film and creative industries last. Welcome to the subreddit of halifax regional municipality, nova scotia, canada. For productions that started principal photography before july 1, 2015, the minister of finance and treasury board for the province of nova scotia will issue tax credit certificates to corporations producing an eligible film in the province. Please contact the nova scotia securities commission at 4247768 if you have questions regarding compliance.
Ns reg 2019 regulations respecting innovation equity tax. Nov 30, 2010 the film industry tax credit is a refundable tax credit for costs directly related to the production of films in nova scotia. Nova scotia has one of the highest film tax credits in the country. This page contains the full text of the innovation equity tax credit regulations filed with the nova scotia office of the registrar of regulations as n. Film and television tax credit province of british columbia. Schedule a regulations respecting innovation equity tax credits made by the governor in council under section 37a of chapter 217 of the revised statutes of nova scotia, 1989, the b1co111e tax act citation 1 these regulations may be cited as the innovation equity tax credit regulations. The animation industry was included in the old tax credit but didnt fit well into the new fund. May 21, 2015 despite these efforts, the cut is now a done deal. Nova scotia adds animation stream to digi tax credit. This page contains the full text of the film industry tax credit regulations consolidated by the nova scotia office of the registrar of regulations to n. Equity tax credit finance and treasury board, government of nova scotia applies only to. The shares may only be sold in accordance with the.
Nova scotia film industry tax credit slashed by liberal. Nova scotia tax rates under the current tax on income method, tax for all provinces except quebec and territories is calculated the same way as federal tax. Nova scotia s controversial film tax credit is officially dead. As per the ns 2015 budget, this tax credit is eliminated effective january 1, 2015. The last taxation year for which it could be claimed was 2014. Member profiles are managed by screen nova scotia members individually. Also called the sport and recreational expenses for children tax credit, this was a nonrefundable tax credit, claimed at the lowest nova scotia tax rate 8. Responsibility for the accuracy and completeness of such content lies solely with those content. Stackable with canadas federal tax incentive see combining incentives below. This nova scotia tax credit was introduced effective january 1, 1995, and is delivered through the format of a refundable income tax credit. Eastlink tv independent production fund canada business. Nova scotia is the secondsmallest of canadas ten provinces, with an area of 55,284 square kilometres 21,300 sq mi, including cape breton and another 3,800 coastal islands. Nova scotias film industry rallying for tax credit at. Innovation equity tax credit regulations income tax act.
Apr 24, 2015 nova scotia has one of the highest film tax credits in the country. The digital media tax credit is a refundable tax credit for costs directly related to the development of interactive digital media products in nova scotia. A production company can expense 50 per cent of every nova scotiabased employees labour costs to the government. Form 428 is used to calculate this provincial or territorial tax. Apr 11, 2015 as the tax credit has played a large role in fostering nova scotias film industry since its inception in 1993, proponents of the tax credit including the trailer park boys and snoop dogg were. Nova scotia s government has struck an agreement with members of the provinces film industry over the planned cuts to the film tax credit, the two sides announced thursday. Digital animation tax credit regulations government of nova scotia. The digital animation tax credit datc is a refundable tax credit for costs directly related to the development of digital animation in nova scotia. Nova scotia volunteer firefighters and ground search and rescue tax credit. Oct 19, 2016 the government says a positive story is coming out of the nova scotia film industry, but at least one longtime producer disagrees. Each project shall utilize the regulations according to the date of when the credit allocation letter cal was issued. Must primarily be a film or video production business. Nova scotia noneligible dividends ns income tax act s. Tax credits for film and tv production a race to the bottom.
Depending on the province, producers can access combined federal and provincial tax credits ranging from 32% to 70% of eligible labor, as well as tax incentives. Ns reg 6298 nova scotia child benefit regulations canlii. A number of people employed by the film and television industry say they are pulling up stakes and leaving nova scotia for summer work because of changes to the film tax credit. Members of nova scotias film industry say cuts to a tax credit will have a devastating effect on productions in the province. Tax credit amounts will now be equal to the lesser of. Faqs cedif application process nova scotia securities commission bus. This consolidation is unofficial and is for reference only. The best countries in the world to film your movie, based on. These regulations may be cited as the film and video industry tax credit regulations 399 s1. Consolidated statutes of nova scotia title beginning. The nova scotia film tax credit a numbers game the. We are now accepting applications for the nova scotia film and television production incentive fund.
What this means for the film industry going forward is still unclear, particularly since the implementation date of the new fund is mere weeks away with many details yet to be ironed out. Enter the amount of the credit earned in the current year on line 565 of schedule 5, tax calculation supplementary corporations if there is only one certificate, enter the certificate number on line 836 of schedule 5 if there is more than one certificate, complete schedule 345, additional certificate numbers for the nova scotia film industry tax credit. Nova scotia film tax credit plan struck between province. Eligibility for the nova scotia film industry tax credit to be eligible for this credit, a corporate must satisfy all of the following requirements be a taxable canadian corporation. The credits are for domestic productions with qualifying levels of canadian content. As the tax credit has played a large role in fostering nova scotias film industry since its inception in 1993, proponents of the tax credit including the trailer park boys and snoop dogg were. Nonrefundable tax credits that are specific to a province or territory are also calculated on form 428. Divided among provinces, with the most generous being ontario, quebec, nova scotia, newfoundland and labrador, new brunswick, and british columbia financial incentive. It has two delivery agencies, revenue canada and the nova scotia minister of finance through the office of nova scotia film development corporation nfsd. Nova scotia introduces tax credit legislation for manufacturers. Before the budget dropped, nova scotia and manitoba had the best film tax credit incentiveshighest amount of money that could be given back to productions for local spendingin canada. This date is unreasonable, unrealistic, and is causing havoc in the industry, says screen nova scotia. The credit ranges from 50% to 65% of eligible salaries paid to employees who are residents of the province. Disagreement persists on state of nova scotia film industry.
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