HALIFAX – Members of Nova Scotia’s film industry say cuts to a tax credit will have a devastating effect on productions in the province.
In its spring budget, the provincial government announced today that a film tax credit will only cover 25 per cent of eligible costs, allowing film companies to claim the other 75 per cent of the credit against taxes they owe to the province.
Eligible costs, including up to 65 per cent of salaries, can be fully refunded as it stands.
Producer Marc Almon, chairman of Screen Nova Scotia, says the cut eliminates the province’s ability to attract productions or retain those already here.
Almon says the cut is a “stake through the heart” of Nova Scotia’s film industry and he expects mass job losses.