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Ontario Film Tax Credits Contribute To 40% Growth

Friday, February 19, 2010

Ontario’s film and television industry contributed CAD946.4m (USD900m) to the provincial economy in 2009 – up by 41% over 2008.

The increase in foreign productions was in part attributed to the Ontario Government’s enhancements to the Ontario Production Services Tax Credit (OPSTC) announced on June 30, 2009. The OPSTC was expanded from 25% of eligible labor to include all eligible Ontario production costs. The tax credit enhancement added an important incentive to the many other advantages Ontario offers film and television producers.

Ontario held its competitive edge, marking a return to production levels not seen since 2002 – despite the continued strength of the Canadian dollar, aggressive competition from other jurisdictions, and a global economic crisis.

Increases were seen in all genres – foreign and domestic – compared to 2008. Total domestic production spending increased by CAD129.8m, or 23.8%, contributing CAD674.4m. Total foreign production spending increased by CAD145.5m, or 114%. Foreign feature spending increased from CAD79m to CAD161.8m, a 104.5% increase.

Ontario’s strong domestic film and television sector continued to experience growth in 2009. Foreign television series spending spiked in 2009, contributing CAD58m in 2009 compared with CAD16m in 2008 (a 262% increase), with the average foreign television series production budget increasing by 201.6% from 2008.

Ontario Media Development Corporation (OMDC) programs also support the book and magazine publishing, music and interactive digital media industries, all of which experienced growth in 2009. The entire entertainment and creative cluster produces CAD15bn in revenue and over 200,000 jobs, contributing CAD12.7bn to the province’s GDP.

“We are delighted that Ontario’s film and television industry has come back so strongly in such a globally-competitive environment," said Karen Thorne-Stone, President & CEO of OMDC. "Despite economic challenges and a strong Canadian dollar, Ontario has consistently demonstrated that it has the right mix of government support, financial incentives, world-class infrastructure, superb talent and skills and diverse locations to attract outstanding foreign and domestic productions. Early indications point to 2010 being another strong year.”

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The Report

Offshore Trusts Guide: Introduction

The History of Offshore Trusts
Development of Professional Competence in the Jurisdictions
What Future for the Trust?
The New Age of Transparency
The Swiss Association of Trust Companies
The Society of Trusts and Estates Practitioners

Offshore Trusts Guide: Jurisdictions

Bahamas

Bahamas: Legal Framework and Formation Rules and Fees
Bahamas: 2006 Private Trust Companies Legislation

Barbados

Barbados: Legal Framework and Formation Rules and Fees
Barbados: Supervisory and Licensing Regime and Fees

Bermuda

Bermuda: Legal Framework and Formation Rules and Fees
Bermuda: Supervisory and Licensing Regime and Fees

British Virgin Islands

British Virgin Islands: Legal Framework and Formation Rules and Fees
British Virgin Islands: Special Trusts Act 2003
British Virgin Islands: The Trustee Act 2003
British Virgin Islands: :Supervisory and Licensing Regime and Fees
British Virgin Islands: New Laws on Private Trust Companies
British Virgin Islands: New Private Trust Company Regulations

Cayman Islands

Cayman Islands: Legal Framework and Formation Rules and Fees
Cayman Islands: Supervisory and Licensing Regime and Fees

Cook Islands

Cook Islands: Legal Framework and Formation Rules and Fees
Cook Islands: Supervisory and Licensing Regime and Fees

Cyprus

Cyprus: Legal Framework and Formation Rules and Fees
Cyprus: Supervision, Licensing and Tax

Gibraltar

Gibraltar: Legal Framework and Formation Rules and Fees
Gibraltar: Legislation, Regulation and Supervision

Guernsey

Guernsey: Legal Framework and Formation Rules and Fees
Guernsey: Trusts Law 2007

Isle of Man

Isle of Man: Legal Framework and Formation Rules and Fees
Isle of Man: Supervisory and Licensing Regime
Isle of Man: Uses Clients and Tax Treatment

Jersey

Jersey: Legal Framework and Formation Rules and Fees
Jersey: Supervisory and Licensing Regime
Jersey: Trusts Amendment Act 2006
Jersey: Foundations

Liechtenstein

Liechtenstein: Legal Framework and Formation Rules and Fees
Liechtenstein: Regulation Supervision and Transparency
Liechtenstein: Characteristics of Liechtenstein Trusts
Liechtenstein: Foundations

Madeira

Madeira: Legal Framework and Formation Rules and Fees

Malta

Malta: Legal Framework and Formation Rules and Fees
Malta: The Trust and Trustees Act 2004

Mauritius

Mauritius: Legal Framework and Formation Rules and Fees
Mauritius: Characteristics of the 2001 Trusts Act
Mauritius: Additional Provisions of the 2001 Trusts Act
Mauritius: Tax Treatment

Monaco

Monaco: Legal Framework and Formation Rules and Fees

Nevis

Nevis: Legal Framework and Formation Rules and Fees

Panama

Panama: Legal Framework and Formation Rules and Fees
Panama: Requirements for Acting as Trust Company in Panama

Seychelles

Seychelles: Legal Framework and Formation Rules and Fees

Turks & Caicos

Turks & Caicos: Legal Framework and Formation Rules and Fees
Turks & Caicos: The Voidable Dispositions Ordinance

Vanuatu

Vanuatu Legal Framework and Formation Rules and Fees




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