On December 30, 2004, the Quebec Minister of Finance, the Honourable Yves Séguin, on behalf of the Quebec Government, announced an increase in the rate of the Quebec Refundable Tax Credit for Film or Television Production Services from 11% to 20% of eligible Quebec labour costs.

The new increased rate will be effective on Quebec labour expenditures from December 31, 2004.

The increased tax credit is aimed at boosting the province’s film industry which has been hit by the rising Canadian dollar and increased competition from other jurisdictions. According to Finance Minister, Yves Séguin, "This rapid intervention reflects the government’s desire to maintain Quebec’s position as an ideal shooting location for foreign producers."

The increase to the Quebec Refundable Tax Credit for Film or Television Production Services follows the recently announced increase to the Ontario Film and Television Tax Credit from 20% to 30% and the Ontario Production Services Tax Credit from 11% to 18% as described in the Goodmans Update dated December 21, 2004.

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