Canada: Second bill, Ontario’s 2015 budget

Ontario 2015 budget

Ontario Bill 144—providing certain tax changes from the province's 2015 budget—received first reading on 18 November 2015. Ontario has a majority government.

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This is the second bill enacting changes in the province’s 2015 budget. Among the changes, Bill 144:

  • Amends the conditions for the Ontario interactive digital media tax credit
  • Excludes certain government assistance payments in calculating the Ontario computer animation and special effects tax credit
  • Clarifies the applicable tax rates related to a mutual fund trust's Ontario capital gains refund, beginning after 2015

Some budget changes have not been addressed, including a provision on the calculation of the Ontario film and television tax credit to exclude government equity investments as assistance and a measure allowing the use of accrued but unused Ontario resource tax credits to be carried forward and applied against Ontario income taxes payable.

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