With the Canadian dollar now worth slightly more than the American dollar, the Ontario government is planning to raise the tax credit to foreign filmmakers by 7 percent. The increase is expected to offset the impact of the growing strength of the Canadian currency that has resulted in U.S. filmmakers no longer being able to take advantage of savings from the previous exchange rate. The tax credit would principally affect film and TV production in Toronto, which boasts Canada's most extensive film facilities and production personnel.
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