Saskatchewan Finance Minister Ken Krawetz announced in the 2012 Saskatchewan budget that the Film Employment Tax Credit, which has been in place since 1998, will no longer be offered as of July 1, 2012. Most Canadian provinces, as well as the Canadian federal government, offer digital media tax credits and to encourage this industry. This announcement has raised alarm over the future of the film and TV industry in Saskatchewan, and created an immediate outcry from the local Saskatchewan and the Canadian film industry.
The Saskatchewan Film Employment Tax Credit was introduced in 1998 to encourage the film and TV industry to invest in local production. This tax credit has resulted in business incentives totally $100 million since its introduction, and its elimination is expected to save the government $3 million in 2012, and $8 million annually once it is fully phased out by the end of 2014.
