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Searching for Film Finance? Your Ace In The Hole May Be The Canadian Film Tax Credit!

Chaya Ben by Chaya Ben
June 14, 2019
in Finance
0
Searching for Film Finance? Your Ace In The Hole May Be The Canadian Film Tax Credit!

We are will make a fast assumption here, and that is that you’re not a film tycoon within an worldwide film studio! But we all do think we all know what you are – a producer or project owner searching to accomplish your film finance plan.

We’ll also make another educated guess – here goes: You have discovered the Canadian film tax credit system can finance between 30-45% of the project and that is quite appealing!

Let us check out the basics from the Canadian film tax credit and see the way it can help you in financing any project. The Canadian government makes it very obvious that it’s dedicated to film (incidentally we are including television and animation here!) because of the revenue and cultural facets of the entertainment industry.

So these tax credits can enjoy a vital part within the overall financing area of the plan. However in speaking to clients we allow it to be very obvious the onus continues to be on yourself, so we know it is not easy, to accomplish all of your operating plan.That’s obviously the rest of the financing you’ll need it achieved by arranged equity, debt, pre-sales, etc – essentially finishing the finance puzzle.

Generally the tax credits we glance at are usually in Ontario and B.C., individuals provinces have in the past been considered Hollywood North in film finance – but in fact if you’re able to shoot or produce any project in a few of the other Canadian provinces individuals tax credits become much more liberal with respect to the geography you’ve selected.

How do we effective navigate the Canadian film tax credit maze? We personally don’t believe its a maze, actually its quite easy, but in fact when anybody associates a government program with funding it features a thought of being bureaucratic, slow, etc. That isn’t always the situation using the film tax credit.

Lets ensure you will find the basics, and to be honest you are able to proceed to GO and collect 200$ by simply employing a core expert team composed of the Canadian tax credit consultant. Along with your entertainment accountant and lawyer that consultant can steps for success you to definitely Canadian film tax credit success.

The procedure simply involves trying to get a Production certificate that be sure that your project is qualified according to your spend budget. Non- Canadian producers might even be amazed to understand that you could apply on-line with the government portal to obtain your certificate. This is when getting the best ‘ finance talent ‘ is necessary, because you need to increase your credit to offer the best qualification for that combined federal and provincial credit.

Can the Canadian film tax credit be employed to really finance your film, i.e. real cash? Absolutely, positively. Using a Canadian business financing consultant in this region will help you to income or monetize your credit. The main city, again, between 35% of the project may be used to really complete your production in conjunction with other aforementioned causes of financing.

In conclusion, we are the initial to acknowledge that film finance is not easy – however when a certified partner – i.e. the Canadian government! would like to part of and assist you with 30-45%, or even more of the entire budget our recommendation is straightforward – Go ahead and take offer.! Make contact with a reliable, credible and experienced Canadian business financing consultant who can help you in maximizing your film finance plan.

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