The provincial government has reduced the base tax credit amount by 10%, and introduced a cap on how much of the spend is eligible for the tax credit (now 65%), analysts are saying that this reduces the credit overall by 30%
I wonder how this is going to shake out in the long term. A lot of studios are set up in Montreal purely because of the tax breaks and it’s evidently easy enough for some to close down or move away. It’s certainly not going to be a destination companies will look to set up new studios or offshoots in the future if the tax breaks are less enticing than even other Canadian provinces.
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Did something change with the games industry tax breaks in Montreal/Canada? It feels like a lot of Montreal based layoffs lately.
It did:
The provincial government has reduced the base tax credit amount by 10%, and introduced a cap on how much of the spend is eligible for the tax credit (now 65%), analysts are saying that this reduces the credit overall by 30%
https://www.lapresse.ca/affaires/techno/2024-03-12/budget-du-quebec-2024/le-menage-commence-par-les-ti-et-les-jeux-video.php https://www.cbc.ca/news/canada/montreal/vfx-animation-quebec-tax-credits-1.7218781
Interesting, thanks for the link!
I wonder how this is going to shake out in the long term. A lot of studios are set up in Montreal purely because of the tax breaks and it’s evidently easy enough for some to close down or move away. It’s certainly not going to be a destination companies will look to set up new studios or offshoots in the future if the tax breaks are less enticing than even other Canadian provinces.