Prospecting for gold is probably tough, but we’re quite sure prospecting for financing for the film, TV or digital animation projects is tougher. So just why not get 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 very well thanks, as well as the generosity and relative straightforwardness of Canadas film tax credit system has sure helped because regard.
There is still almost not really a day when we don’t hear or find out about various film tax credit debacles within the U.S. – (The very last title we say yesterday read the following ” Officials prepare for a battle over if you should scarp 40M a year 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 seems to be a lot more easier and straightforward.. I assume we’re biased a bit!
Canadian film tax credits as well as the financing of these gettyimages.com have already been in position for several years now. Each province features a film tax credit (you will find 10 provinces in Canada) as well as the credit is together with CRA, which is the Canadian same as the internal revenue service in america.
While we have noted before Canada maintains the money, jobs, and resultant tax revenue through the industry a lot more than offset funds granted via tax credit certificates for the three elements of the market – film, TV, and digital animation. (Actually there are some other credits for music and publishing).
Producers and project owners within both U.S. and Canada that decide to domicile there projects in Canada (i.e. film them here, post produce them here, etc) have been in the enviable position of receiving funding for projects from anywhere, generally.. from 30- 45% with their total budget. Yes, its still your choice as producer to arrange another 55-70% but don’t say you haven’t an excellent start when you receive non repayable funds inside the amounts that we have highlighted.
The next biggest mistake filmmakers make is just signing up to the “big festivals.” It is true that the big festival can and do launch careers, but do you know what? Those same big festivals receive thousands of entries. A number of the more well known, including Sundance, often receive 6,000 or more a year for under 200 slots. Take a close look and you will see that a number of these festivals are in fact screening big-budget Hollywood films filled with stars. This reduces the number of slots open to the little independent filmmaker a lot more. Unfair, well sure it really is, but it’s also the method of the business and how around the globe. Proceed to pertain to a few of the big festivals, but bear in mind that the bulk of your festival submission dollars should go to the smaller festivals who have less competition. Four or five awards from smaller festivals might not get you signed to a three-movie deal, but it can help enable you to get in to the big festival you had been initially shooting for in the first place. Make sure and let those big festivals understand that you screened in the smaller festivals. It swsfxj definitely help.
Again, it’s about networking and merely since the festival is small doesn’t imply that there isn’t anyone there which may take a desire for your projects. Keep an open mind about smaller festivals, be respectful for all those involved and you might be surprised so what can happen.
So you’ve ‘struck gold ‘ with your tax credit certification? Is that all there exists? Not at all, since many producers and project owners choose to finance those credits for valuable income and working capital.
With a reliable, credible and experienced Canadian business financing advisor you will get solid assistance in qualifying your claim, determining eligibility, getting your credits certified, and, finally, last but not lease, financing these valuable credits for cash flow and working capital to your current or next project. If this isn’t ‘ striking gold… we don’t understand what is!