Released on March 19, 1998
Municipal Government Minister Carol Teichrob today announced theintroduction of a new Saskatchewan Film Employment Tax Credit to spur
investment in the province's film and video industry.
"The new Film Employment Tax Credit will help increase activity in
film and video production," Teichrob said. "This will help show
Saskatchewan to the rest of the world while creating jobs here at
home."
The Film Employment Tax Credit was developed following extensive
consultations with the Saskatchewan Motion Picture Association and
will provide tax credits equivalent to 35 per cent of the value of
eligible salaries paid to Saskatchewan residents on eligible film and
video projects. Eligible salaries will be limited to more than
50 per cent of a project's total production costs. Corporations
applying for the tax credit must have their head office located in
Saskatchewan. An additional credit of five per cent of total
production costs will be provided for projects located outside the two
major cities.
The current value of film and video production in Saskatchewan is
about $26 million per year. The film and video industry has
estimated that the tax credit will cause total film and video
production and employment to double.
Teichrob also announced $1 million in ongoing funding to
SaskFILM, a non-profit funding agency whose mission is to help
improve the quality, quantity and marketability of Saskatchewan
film and video products and resources. The funding is intended
to ensure the continued production of high-quality, culturally
significant productions in Saskatchewan.
"Combined with the Employment Tax Credit, the investment in
SaskFILM lays the groundwork to help create an expansion in our
film and video industry," Teichrob said.
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For more information, contact:
Sandy Cameron
Municipal Government
Regina
Phone: (306) 787-0531