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ACTRA Urges NS Government to Increase Film Tax Credit |
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Written by ACTRA
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Monday, 13 March 2006 |
The leader of Nova Scotia's television and film actors says the local film industry is heading for a major slump unless the Conservative government lives up to its promises keep its Film Tax Credit competitive with other provinces.
ACTRA Maritimes president, Nigel Bennett says that despite the government's promise, Nova Scotia is rapidly falling behind its competitors in providing tax credits to film and television productions. Once the leader in the field, Bennett says, Nova Scotia now trails the other Atlantic provinces and its other major competition, Manitoba and Saskatchewan.
Bennett says that Nova Scotia increased its basic Film Tax Credit last year from 30% to 35%, but since then Saskatchewan and Manitoba have raised theirs to 45%, New Brunswick and Newfoundland to 40% and Prince Edward Island to 52.5%.
"If we do not stay competitive," says Bennett, " Nova Scotia will soon be losing productions to an extent which could cripple the industry."
Bennett says his members want the government to announce an increase in the basic Film Tax Credit to at least 40% as soon as possible. Already, Bennett says, potential productions are devising their financial projections and need to know if they can afford to shoot in the province. "Time is of the very essence," says Bennett, "Each day the government procrastinates, Nova Scotia could be losing millions of dollars of economic activity and hundreds of jobs".
Bennett (currently starring in Neptune Theatre's Who's Afraid of Virginia Woolf? ) says his union is also asking the province to provide an additional 5% bonus to film productions which use local actors in at least 60% of their speaking roles. "The Film Tax Credit is of great economic benefit to Nova Scotia," Bennett says," but so far performers have benefited less than other workers in the film industry. We are looking, not for a 'stick', but an additional 'carrot' as an incentive for producers to cast more local actors."
Bennett says that the Film Tax Credit costs the government nothing, but in some years has produced as much as $100+ million in economic activity.
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