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. If you are in need of urgent funds for your business, you can also check for CIF funding, the condition improvement funding always recommended for those who are in need of funds.
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.