Prospecting for gold is most likely tough, but we’re quite sure prospecting for financing for your film, TV or digital animation projects is tougher. So why not have that ‘ striking gold ‘ feeling via Ontario and BC film production incentives and film tax credits.
The film industry in Hollywood North (aka Canada) is alive and incredibly well thanks a lot, as well as the generosity and relative straightforwardness of Canadas film tax credit system has sure helped in this regard.
There is still almost not a day whenever we don’t hear or find out about various film tax credit debacles inside the U.S. – (The final title we say a few days ago read the following ” Officials plan for a battle over whether or not to scarp 40M annually regulations and tax breaks for movie and television…’ ). That story originated away from Connecticut, and we’re not pointing fingers at any particular state, its that Canadian film tax credits for Ontario and BC Film production incentives is apparently a lot more easier and straightforward.. I suppose we’re biased somewhat!
Canadian film tax credits and the financing of these Kia Jam happen to be set up for quite some time now. Each province has a film tax credit (you can find 10 provinces in Canada) as well as the credit is together with CRA, which is the Canadian same in principle as the internal revenue service in america.
While we have noted before Canada maintains the money, jobs, and resultant tax revenue from your industry more than offset funds granted via tax credit certificates for the three areas of the business – film, TV, and digital animation. (Actually there are several other credits for music and publishing).
Producers and project owners in both U.S. and Canada that elect to domicile there projects in Canada (i.e. film them here, post produce them here, etc) are in the enviable position of receiving funding for projects from anywhere, generally speaking.. from 30- 45% of their total budget. Yes, its still up to you as producer to arrange one other 55-70% but don’t say you haven’t a good beginning once you receive non repayable funds in the amounts that we have highlighted.
The 2nd biggest mistake filmmakers make is only signing up to the “big festivals.” It is certainly factual that the large festival can and do launch careers, but do you know what? Those same big festivals receive a large number of entries. A few of the more well known, like Sundance, often receive 6,000 or maybe more a year for less than 200 slots. Take a close look and you will see that a number of these festivals are in reality screening big-budget Hollywood films including stars. This reduces the amount of slots ready to accept the tiny independent filmmaker much more. Unfair, well sure it really is, but it’s even the method of the industry and exactly how around the globe. Go on and pertain to some of the big festivals, but remember that the majority of your festival submission dollars should visit the smaller festivals that have less competition. Four or five awards from smaller festivals may not allow you to get signed to a three-movie deal, however it may help enable you to get in to the big festival you had been initially concentrating on to begin with. Make sure and let those big festivals realize that you screened at the smaller festivals. It swsfxj definitely help.
Again, it’s about networking and just as the festival is small doesn’t imply that there isn’t anyone there which may take an interest in your work. Keep an open mind about smaller festivals, be respectful to any or all those involved and you will be blown away what can happen.
So you’ve ‘struck gold ‘ along with your tax credit certification? Is the fact that all there exists? Certainly not, as most producers and project owners decide to finance those credits for valuable cash flow and working capital.
With a dependable, credible and experienced Canadian business financing advisor you will get solid assistance in qualifying your claim, determining eligibility, getting the credits certified, and, finally, last however, not lease, financing these valuable credits for cash flow and working capital for your current or next project. In the event that isn’t ‘ striking gold… we don’t understand what is!