43.10 (1) A corporation that is a qualifying corporation for a taxation year and complies with the requirements of this section may deduct from its tax otherwise payable under this Part for the taxation year, after making all deductions claimed under sections 39, 40, 41, 43 and 43.2 to 43.9 for the taxation year, an amount not exceeding the amount of its Ontario production services tax credit for the taxation year.  1998, c. 5, s. 17; 2004, c. 16, s. 2 (2). Same (2) A corporation that is a qualifying corporation for a taxation year and complies with the requirements of this section may deduct from its tax otherwise payable for the year under Parts III and IV of the Act an amount not exceeding the amount by which its Ontario production services tax credit for the taxation year exceeds the maximum amount, if any, deductible by the corporation for the year under subsection (1).  1998, c. 5, s. 17; 2004, c. 16, s. 2 (2). Amount of tax credit (3) The amount of a qualifying corporation’s Ontario production services tax credit for a taxation year is the sum of the corporation’s eligible credits for the taxation year in respect of eligible productions.  1998, c. 5, s. 17; 2004, c. 16, s. 2 (2). Eligible credit (4) A qualifying corporation’s eligible credit for a taxation year in respect of an eligible production is the total of, (a) 11 per cent of the portion of its qualifying Ontario labour expenditure in respect of the production for the taxation year that relates to expenditures incurred before January 1, 2005; (b) 18 per cent of the portion of its qualifying Ontario labour expenditure in respect of the production for the taxation year that relates to expenditures incurred after December 31, 2004 and before January 1, 2008; (c) 25 per cent of the portion of its qualifying Ontario labour expenditure in respect of the production for the taxation year that relates to expenditures incurred after December 31, 2007 and in a taxation year that ends before January 1, 2009; and (d) in the case of a regional Ontario production, 3 per cent of the portion of its Ontario labour expenditure in respect of the production for the taxation year, that relates to expenditures incurred after May 2, 2000 and before January 1, 2005.  2005, c. 28, Sched. D, s. 12 (1); 2006, c. 9, Sched. D, s. 1; 2007, c. 7, Sched. 6, s. 3; 2008, c. 7, Sched. E, s. 6 (1). Exception, tax credit rate (4.1) If a percentage is prescribed by the regulations for the purposes of clause (4) (c), the percentage prescribed for the purposes of that clause and not the percentage set out in that clause shall apply in determining an amount under that clause in respect of the period to which the prescribed percentage applies.  2005, c. 28, Sched. D, s. 12 (1); 2008, c. 7, Sched. E, s. 6 (2). Exception (5) Despite subsection (4), a qualifying corporation’s eligible credit for a taxation year in respect of an eligible production is nil if the corporation claims a tax credit for any taxation year under section 43.5 in respect of the production, unless no tax credit under section 43.5 in respect of the production is allowed.  1998, c. 5, s. 17; 2004, c. 16, s. 2 (2). Application for certificate (6) In order to be eligible to deduct or claim an amount in respect of an Ontario production services tax credit under this section with respect to a particular production, a qualifying corporation shall apply to the Ontario Media Development Corporation, or to another person designated by the Minister of Culture, for certification that the production is an eligible production for the purposes of this section.  1998, c. 5, s. 17; 2004, c. 16, s. 2 (2); 2005, c. 28, Sched. D, s. 12 (2). Same (7) A qualifying corporation that applies for certification shall provide the information specified for the purposes of this section by the Ontario Media Development Corporation or the person designated by the Minister of Culture to the person who specified that it be provided.  1998, c. 5, s. 17; 2004, c. 16, s. 2 (2); 2005, c. 28, Sched. D, s. 12 (2). Certificate (8) The Ontario Media Development Corporation or the person designated by the Minister of Culture shall issue to the qualifying corporation a certificate and any amended certificates, (a) if the particular production is an eligible production for the purposes of this section; and (b) if the qualifying corporation, (i) has not claimed a tax credit in respect of the production under section 43.5, or (ii) has claimed a tax credit in respect of the production under section 43.5 which was not allowed on assessment or reassessment by the Minister, and the corporation has not objected to the assessment or reassessment on the issue of the disallowance of the tax credit under section 43.5 in respect of the production.  1998, c. 5, s. 17; 2004, c. 16, s. 2 (2); 2005, c. 28, Sched. D, s. 12 (2). Same (9) Each certificate issued under subsection (8) must certify that the particular production is an eligible production for the purposes of this section and certify the estimated amount of the corporation’s eligible credit for the production for the purposes of this section.  1998, c. 5, s. 17; 2004, c. 16, s. 2 (2). Certificate to be delivered with return (10) In order to deduct or claim an amount under this section for a taxation year in respect of a particular production, a qualifying corporation must deliver to the Minister with its return for the taxation year the certificate most recently issued in respect of the production or a certified copy of the certificate.  1998, c. 5, s. 17; 2004, c. 16, s. 2 (2). Deemed tax payment (11) A qualifying corporation shall be deemed to pay on account of its tax payable under this Act for a taxation year an amount claimed by the corporation not exceeding the amount, if any, by which the corporation’s Ontario production services tax credit for the taxation year exceeds the maximum amount, if any, deductible by the corporation under subsections (1) and (2) in determining its tax payable under this Act for the taxation year.  1998, c. 5, s. 17; 2004, c. 16, s. 2 (2). Time of deemed payment (12) A qualifying corporation shall be deemed to make the payment referred to in subsection (11) and the Minister shall be deemed to apply the deemed payment on the day on or before which the corporation would be required under clause 78 (2) (b) to pay any balance of tax payable for the taxation year.  1998, c. 5, s. 17; 2004, c. 16, s. 2 (2). Revocation of certificate (13) A certificate or amended certificate issued under subsection (8) may be revoked, (a) if an omission or incorrect statement was made for the purpose of obtaining the certificate; (b) if the production is not an eligible production; (c) if the corporation to which the certificate is issued is not a qualifying corporation; or (d) if a certificate in respect of the production is issued to the corporation under subsection 43.5 (9).  1998, c. 5, s. 17; 2004, c. 16, s. 2 (2). Same (14) A certificate that is revoked shall be deemed never to have been issued.  1998, c. 5, s. 17; 2004, c. 16, s. 2 (2). Application (15) This section applies with respect to qualifying Ontario labour expenditures incurred after October 31, 1997.  1998, c. 5, s. 17; 2004, c. 16, s. 2 (2). Regulations (15.1) The Lieutenant Governor in Council may make regulations prescribing a percentage for the purposes of clause (4) (c) and the period of time after December 31, 2007 and before January 1, 2009 to which it applies.  2008, c. 7, Sched. E, s. 6 (3). Same (15.2) A regulation under subsection (15.1) may prescribe different percentages in respect of different time periods in which expenditures are incurred.  2005, c. 28, Sched. D, s. 12 (3). Definitions (16) In this section, “eligible production” means a film or television production that satisfies the conditions prescribed by the regulations; (“production admissible”) “qualifying corporation” means a corporation that satisfies the conditions prescribed by the regulations; (“société admissible”) “qualifying Ontario labour expenditure” means the amount determined under the rules prescribed by the regulations; (“dépense de main-d’oeuvre admissible en Ontario”) “regional Ontario production” has the meaning given to that expression in subsection 43.5 (19) if the reference to “eligible Ontario production” in that definition were read as a reference to an “eligible production”. (“production régionale ontarienne”)  1998, c. 5, s. 17; 2000, c. 42, s. 18 (2); 2004, c. 16, s. 2 (2). Section Amendments with date in force (d/m/y) 1998, c. 5, s. 17 - 01/11/1997 2000, c. 42, s. 18 (1, 2) - 03/05/2000 2004, c. 16, s. 2 (2)
- 01/01/2004 2005, c. 28, Sched. D, s. 12 (1-3) - 11/05/2005 2006, c. 9, Sched. D, s. 1 - 01/04/2006 2007, c. 7, Sched. 6, s. 3 (1, 2) - 17/05/2007 2008, c. 7, Sched. E, s. 6 (1, 2) - 01/01/2008; 2008, c. 7, Sched. E, s. 6 (3) - 14/05/2008