Cancelled N.B. film tax credit could impact N.S.
This week's announcement by the New Brunswick government to cancel a tax credit for film production could have a big impact on the industry in Nova Scotia.
The president of the New Brunswick Film Producers Association is predicting many filmmakers will relocate to Nova Scotia to take advantage of a tax credit that knocks 50 to 60 per cent off labour costs.
But Tim Storey, the business agent for the Directors Guild of Canada in the Atlantic region, is concerned New Brunswick's move might look attractive to other provinces trying to reduce their deficit.
"It very well could be the end of the tax credits and it would be a real challenge to film in New Brunswick from this point forward," said Storey.
"The one thing we are all concerned about is this could start a cascade with other finance departments really putting a push on government to look at the other tax credits. Stable tax credits are a good thing. So much of the production here relies on it, if we start tinkering with now, we could see it dry up elsewhere."
Storey and others in the film industry argue that for every dollar a province gives up as a tax credit, the province gets more than $10 back because of the jobs and services the productions require.