Increased incentives already available to studios in province
The Quebec government has raised the games tax credit available to local game studios back up to 37.5 per cent, following cuts to the scheme last year.
In June 2014, tax subsidies in the province were slashed to 30 per cent for games produced in French, and to 24 per cent in another language, as the government aimed to cut its $6bn deficit by saving $2.7bn.
Now after making those savings, during yesterday’s Budget it was announced that the games tax credit will revert to 37.5 per cent for games produced in French, one of the highest subsidies in the global game industry. It is worth noting that most games developed in the region have French translations, alongside other languages.
One new stipulation introduced however will put a cap on what can be claimed back for salaries over $100,000. But this will only take effect if more than 20 per cent of the payroll earn over that figure.
The tax credit is available from today.
Dany LaRochelle, director of the Greater Quebec City Representative Office in the EU, told Develop the incentives are expected to be officially be voted into law by parliament next week, and will be retroactive to yesterday’s Budget.