TORONTO – Performers and producers are rallying in support of Bill C-427 which will be voted on in the House of Commons on Wednesday. The Alliance of Canadian Cinema, Television and Radio Artists (ACTRA) and the Canadian Media Production Association (CMPA) are uniting in support of the measures to bring tax fairness to self-employed workers in the cultural sector.
“The modest amendments to the Income Tax Act proposed in Bill C-427 would benefit Canadian film and television workers,” said Ferne Downey ACTRA National President. “As self-employed artists, we are all self-employed contractors and our incomes fluctuate from year to year. Income averaging would smooth things out to ensure our taxation method is predictable and fair.”
“In 2010/11, the film and television production industry contributed $7.5 billion to Canada’s GDP and sustained 128,000 full-time jobs,” said Michael Hennessy, CMPA President and Chief Executive Officer. “The growth of our industry depends on the continued existence of a highly-qualified creative labour force in Canada. If implemented, Bill C-427 would help average out income for the creators working in our sector.”
Bill C-427, the Reflecting the Realities of Canadian Artists Act, was introduced by Tyrone Benskin, MP from Jeanne-Le Ber and former ACTRA National Vice-President. The bill reflects the unique reality of professional artists by allowing them to average their incomes over a period of five years and exempt the first $10,000 of residual and/or royalty earnings in a tax year from taxation.
