Ontario tax credit met with mixed reactions: step in right direction say most
News | 07/12/2000 4:00 am EDT
Details of a tax credit designed to help Ontario new media companies have been implemented after a two-year wait — but the final product isn’t broad enough to help most firms in the province, critics charge. On June 7, the Ontario Film Development Corporation unveiled details of the Ontario Interactive Digital Media Tax Credit, now expanded to cover 20 per cent of eligible labour costs for interactive new media projects in the last provincial budget (CMN, June 14/00). While the extension from the original proposed 10 per cent is welcome, new media community leaders say the credit is too narrow to help most firms producing content on contract. Despite its flaws, the owners of small shops say the credit will help them hire and more generously reward staff and work on even more projects.