Canada’s Ontario province, the country’s most populous, has long been a hotbed of production – especially film and TV projects from Hollywood that are seeking a solid infrastructure and experienced crews.
Responding to this demand, Ontario’s largest city, Toronto, has over the years become home to many modern soundstages and production service companies. Filmmakers and TV producers can also rely on the province’s deep based of experienced film crew. Plus, stateside producers can avail themselves of a favorable exchange rate, where 80 U.S. cents can buy one Canadian dollar, and a 21.5% refundable tax credit that can be combined with Canada’s federal incentive.
Specifically, the province’s 21.5% credit applies to eligible spend on Ontario production services. There’s a separate 18% refundable tax credit for eligible spending on Ontario computer animation and special effects.
The Ontario credit is stackable with Canada’s national tax incentive, which adds up to a very alluring proposition for budget-watching producers.
The minimum spend needs to be 1 million Canadian dollars per film, or about $800,000. For TV projects the minimum spend is 100,000 Canadian dollars, or about $80,000.
Recent production crafted in Ontario include “It” (2017), “Jigsaw” (2017), “The Shape of Water” (2017), TV series “The Handmaid’s Tale (TV Series 2017 – present), “Star Trek: Discovery” (TV Series 2017 – present), and “Designated Survivor (TV Series, 2016 – present).
|21.5%||Refundable tax credit for Ontario production services|
|18%||Refundable tax credit for Ontario computer animation and VFX|
|$800k||Minimum spend for film projects|
|Information courtesy of EP Financial Solutions, a production incentive consulting and financial services company.|