Prospecting for gold is most likely tough, but we’re quite sure prospecting for financing for the film, TV or digital animation projects is tougher. 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 incredibly well thanks, and the generosity and relative straightforwardness of Canadas film tax credit system has sure helped because regard.
There is still almost not really a day whenever we don’t hear or find out about various film tax credit debacles in the U.S. – (The final title we say yesterday read the following ” Officials plan for a battle over if you should scarp 40M a year regulations and tax breaks for movie and tv…’ ). That story originated away from Connecticut, and we’re not pointing fingers at any particular state, its exactly that Canadian film tax credits for Ontario and BC Film production incentives seems to be a lot more easier and simple.. I assume we’re biased somewhat!
Canadian film tax credits and the financing of the kjammedia have been set up for quite some time now. Each province features a film tax credit (there are 10 provinces in Canada) and also the credit is in conjunction with CRA, which is the Canadian same as the internal revenue service in america.
As we have noted before Canada maintains that this money, jobs, and resultant tax revenue through the industry a lot more than offset funds granted via tax credit certificates for that three areas of the market – film, TV, and digital animation. (Actually there are several other credits for music and publishing).
Producers and project owners within both U.S. and Canada that choose 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 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 inside the amounts that people have highlighted.
The 2nd biggest mistake filmmakers make is simply signing up to the “big festivals.” It is definitely factual that the big festival can and do launch careers, but do you know what? Those same big festivals receive a large number of entries. A number of the also known, like Sundance, often receive 6,000 or more annually for under 200 slots. Take a close look and you will see that most of these festivals are actually screening big-budget Hollywood films filled with stars. This reduces the quantity of slots open to the small independent filmmaker a lot more. Unfair, well sure it is actually, but it’s even the means of the market and exactly how around the globe. Go on and affect some of the big festivals, but remember that the bulk of your festival submission dollars should go to the smaller festivals that have less competition. Four or five awards from smaller festivals might not enable you to get signed to a three-movie deal, but it can help allow you to get into the big festival you were initially concentrating on to start with. Be sure and let those big festivals understand that you screened on the smaller festivals. It swsfxj definitely help.
Again, it’s information on networking and merely because the festival is small doesn’t mean that there isn’t anyone there that may take an interest in your job. Keep an open mind about smaller festivals, be respectful for all those involved and you will be blown away what can happen.
So you’ve ‘struck gold ‘ with your tax credit certification? Is the fact that all there exists? Definitely not, since many producers and project owners elect to finance those credits for valuable cashflow and working capital.
By working with a dependable, 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 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 really know what is!