Yesterday the provincial government delivered its annual Fall Economic Statement (FES).
We are pleased to report that the FES contained the following commitment regarding the OCASE tax credit (p. 59):
To respond in this moment of trade uncertainty, the government is proposing a suite of tax measures to provide the stability, resilience and economic prosperity that people and businesses in Ontario deserve. This includes:
….
Transitioning eligibility for the Ontario Computer Animation and Special Effects Tax Credit solely to film and television producers to support the competitiveness of Ontario’s film and television industry.
The language in the FES indicates that the government intends to structure the OCASE credit in way that is similar to other Canadian jurisdictions, but the final wording and details will not be available until the 2027 Budget. We will continue to be in touch with government officials as these details are worked out.
This is an important first step in making Ontario a more competitive filming jurisdiction.
However, there is more work to be done. We look forward to working with the government on a stronger and more durable solution, including increasing the tax credits and the Ontario Creates IP Fund, to ensure the long-term competitiveness of the province.
The 45,000 workers in the film and television industry produce some of the best content in the world, and deserve to have this government’s continued support in order to re-establish Ontario’s position as a global hub for domestic and international production.
We ask all of our members to continue to keep your letters of support coming. Our Keep Ontario Rolling campaign is ongoing, and will be for the foreseeable future.