It’s 11 O’clock – Do You Know Where Your Canadian Financing & Funding For Production Tax Credits Is? Finance Your Film Tax Incentive Now

Let Film Tax Credit Financing In Canada Get Your Project To The Top Of The Mountain

Information on financing and film funding via monetization of your production tax credit . Finance your film and digital media tax incentive for project cash flow and working capital .



When we speak to producers/owners of film, TV and digital animation projects it always seems to be late. Late in respect to getting the financing they need for their projects. That's why it's never been as important a time as now to consider film funding and financing for TV and digital animation projects via the production tax incentive offered by Canadian provincial and federal governments.

The reality is that the Canadian tax credits available to you are currently some of the best administered and most generous in the world.

Using these credits is of course a solid way to help ' cash flow' your film. And with the right assistance, team and advisors you can creatively even pre-fund the tax incentive prior to final filing; of course eliminating then waiting for your cheque from the government.

And by they way, it’s certainly not a complicated process. We liken it with clients to a simply business financing application, one of course that is supplemented with key info on your production such as a budget that clearly that will be the essence of the tax credit application.

Naturally we spoke of a key advantage of the tax credit which was the ever elusive cash flow required to complete your project. But don’t forget also that its a well worn and proven saying in any business financing that ' debt is cheaper than equity ' so we can safely say that by maximizing your tax credit component you naturally enhance and retain equity , i.e. the ownership in your project . Bottom line, why give up equity when you don’t have to with a solid alternative such as tax credit film funding. And don’t forget that applies to TV and the growing digital media projects also.

Canada seems to continue to view in a very positive manner the impact the genres of film, TV and digital media have on the overall Canadian economy. Issues such as employment and future tax revenues seem to drive the overall thinking.

Canadian tax credit financing is not that fragmented as in the U.S. and other parts of the world. Each of the provinces work closely with the federal government which promotes a solid co operative effort.

Many U.S. and other producers in both digital media and other genres are opening Canadian offices. Gaming and video has become the fastest growing segment of the industry. It used to be mainly because of the Canadian $ exchange rate, that clearly is not longer the reason. Canada, aka ' Hollywood North' has clearly evolved into a major center for film, special effects, and gaming. One studio estimated that it costs 1/5 of the expense to create a VFX Green Room in Vancouver as opposed to L.A...

And don’t forget our subject matter today, which is thanks to a guy named DAVE. Dave is the acronym for the Digital Animation Visual Effects tax credit which provides, as an example a 50% tax incentive credit on labor

Because major Canadian centers such as Toronto, Vancouver and Montreal have great talent pools for the industry that allows the labor portion of the tax credit to be maximized - and that’s a good thing, translating into extra cash and working capital for your projects.

In Ontario for example tax credits are actually an ' online ' process for application, with major effort having gone into streamlining the process and approval times.

To finalize and finance your tax credit you need two critical team members, a tax credit expert who can maximize your claim, as well as an experienced Canadian business financing advisor who can cash flow and finance your tax credit for the obvious benefits we have mentioned.

So, it’s getting late. Do you know where your tax credit and financing is? Speak to a Canadian Expert for film and digital animation financing of your next production.



ABOUT THE AUTHOR - STAN PROKOP

7 PARK AVENUE FINANCIAL

CANADIAN BUSINESS FINANCING

http://www.7parkavenuefinancial.com/film_funding_tax_incentive_financing_production.html

Striking Gold With Film Tax Credits – Finance Ontario and BC Film Production Incentives

Prospecting for gold is probably tough, but we're quite sure prospecting for financing for your film, TV or digital animation projects is tougher. So 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 thank you , and the generosity and relative straightforwardness of Canadas film tax credit system has sure helped in that regard .

There continues to be almost not a day when we don’t hear or read about various film tax credit debacles in the U.S. - ( The last title we say the other day read as follows " Officials prepare for a battle over whether to scarp 40M a year tax breaks for movie and tv ...' ) . That story originated out of Connecticut , and we're not pointing fingers at any particular state, its just that Canadian film tax credits for Ontario and BC Film production incentives seems to be a lot more easier and straightforward .. I guess we're biased a bit!

Canadian film tax credits and the financing of those tax credits have been in place for many years now. Each province has a film tax credit (there are 10 provinces in Canada) and the credit is in conjunction with CRA, which is the Canadian equivalent of the IRS in the United States.

As we have noted before Canada maintains that the money, jobs, and resultant tax revenue from the industry more than offset funds granted via tax credit certificates for the three parts of the industry - film, TV, and digital animation. (Actually there are some other credits for music and publishing).

Producers and project owners in both U.S. and Canada that choose 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 their projects from anywhere, in general .. from 30- 45% of their total budget . Yes, its still up to you as producer to arrange the other 55-70% but don’t say you haven’t a good start when you receive non repayable funds in the amounts that we have highlighted.

So you've 'struck gold ' with your tax credit certification? Is that all there is? Definitely not, as most producers and project owners choose to finance those credits for valuable cash flow and working capital.

By working with a trusted, credible and experienced Canadian business financing advisor you can 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 for your current or next project . If that isn’t ' striking gold... we don't know what is!

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Stan Prokop - founder of 7 Park Avenue Financial -

http://www.7parkavenuefinancial.com

Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 7 years - has completed in excess of 50 Million $$ of financing for Canadian corporations .Info re: Canadian business financing & contact details :

http://www.7parkavenuefinancial.com/finance_film_tax_credits_ontario_bc_production.html