Tax legislation will be amended to restore the former rate of 35% applicable to labour expenditures that qualify for the tax credit for the production of sound recordings (referred to in the Budget Speech as the refundable tax credit for sound recording production).

This amendment will apply to qualified property for which an application for an advance ruling or, where no such application has previously been filed in respect of the property, for which an application for a certificate is filed with the Société de développement des entreprises culturelles (SODEC) after March 26, 2015.

For more information, see pages A.90 and A.91 of the document entitled Additional Information 2015-2016 (PDF – 1.96 MB), published by the Ministère des Finances.