Prospecting for gold is probably tough, but we’re quite sure prospecting for financing for your film, TV or digital animation projects is tougher. 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 very well thanks, 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 really a day once we don’t hear or find out about various film tax credit debacles inside the U.S. – (The last title we say yesterday read the following ” Officials prepare for a battle over whether to scarp 40M a year tax breaks for movie and tv…’ ). That story originated 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 much more easier and straightforward.. I guess we’re biased a bit!
Canadian film tax credits and also the financing of the Kia Jam happen to be set up for quite some time now. Each province features a film tax credit (you will find 10 provinces in Canada) and the credit is together with CRA, the Canadian same as the internal revenue service in america.
While we have noted before Canada maintains the money, jobs, and resultant tax revenue from your industry a lot more than offset funds granted via tax credit certificates for your three parts of the business – film, TV, and digital animation. (Actually there are a few other credits for music and publishing).
Producers and project owners both in 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 the total budget. Yes, its still your decision as producer to arrange the other 55-70% but don’t say you haven’t a good beginning whenever you receive non repayable funds inside the amounts we have highlighted.
The next biggest mistake filmmakers make is just signing up to the “big festivals.” It is factual that the large festival can and do launch careers, but you know what? Those same big festivals receive a large number of entries. Some of the more well known, like Sundance, often receive 6,000 or maybe more per year for less than 200 slots. Look closely and you will find that many of these festivals are actually screening big-budget Hollywood films filled with stars. This reduces the amount of slots open to the little independent filmmaker much more. Unfair, well sure it is, but it’s even the means of the industry and exactly how around the globe. Proceed to apply to a few of the big festivals, but remember that the majority of your festival submission dollars should proceed to the smaller festivals which have less competition. Four or five awards from smaller festivals might not allow you to get signed to a three-movie deal, however it might help enable you to get into the big festival that you were initially concentrating on to begin with. Be certain and let those big festivals understand that you screened on the smaller festivals. It swsfxj definitely help.
Again, it’s information on networking and simply as the festival is small doesn’t mean that there isn’t anyone there which may take a desire for your job. Keep a wide open mind about smaller festivals, be respectful for all those involved and you will be surprised so what can happen.
So you’ve ‘struck gold ‘ along with your tax credit certification? Is that all there exists? Not at all, as most producers and project owners elect to finance those credits for valuable income and working capital.
With a trusted, credible and experienced Canadian business financing advisor you may get solid assistance in qualifying your claim, determining eligibility, getting the credits certified, and, finally, last although not lease, financing these valuable credits for money flow and working capital for the current or next project. If this isn’t ‘ striking gold… we don’t understand what is!