TORONTO -- The Ontario government has come to the rescue of the beleaguered local film and TV industry, upping tax credits for domestic production to 30% from 20% and for foreign production to 18% from 11%.
That percentage of the labor portion of a production's budget--usually between 70% and 90% of overall cost--will be tax exempt. For domestic productions shooting outside of Toronto, there will continue to be an additional 10% credit.
Foreign productions lensing outside of Toronto will, however, no longer get an extra 3% credit.
