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Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU -- Ignore unavailable to you. Want to Upgrade?

To: Luc Beaugrand who wrote (3670)	6/29/1998 10:28:00 PM
From: Brian Warner	Respond to of 4718

vancouverprovince.com Movie, mining industries to get word Barbara McLintock Victoria Bureau B.C.'s movie and mining industries are expected to see long-promised legislation today offering them tax breaks for investing in the province. Finance Minister Joy MacPhail is to introduce changes to the provincial Income Tax Act that will offer both industries tax credits first promised in her budget at the end of March. Government sources say film and television producers will be able to take advantage of the "production-services tax credit." It means they'll be offered a refundable tax credit that will equal 11 per cent of the costs of their B.C. labor. The credit is in addition to the already-announced Film Incentive B.C. program, which aims to help home-grown productions and provide financial incentives for producers who choose shooting locations outside the Lower Mainland. Government officials predict that, with the help of the tax credits and incentives, the film industry in B.C. will grow by 10 per cent each year in the next decade, resulting in an increase of up to 45,000 direct and indirect jobs. (Currently the industry provides about 10,000 direct jobs and 15,000 indirect jobs.) The "mining-exploration tax credit" will be available to both individual prospectors and corporations, the sources say. It will total 20 per cent of eligible exploration expenses in B.C. The tax credit is also part of a larger package of reforms to help the mining industry.