Canadian productions continue to enjoy increased tax credit benefits in the film, television, and animation industry in
Financing these tax credits, either when they are filed and eligible, or, in advance of your filing can add significant cash flow and monetization to your projects in the area of film, televison, and digital media can be the make or break point in your overall financial success in any initial production.
The reality of the current environment in this industry as a part of
Key to the financial success of your productions is the ability to monetize, either now, or later the key tax incentives that the Canadian federal and provincial governments have provided.
To highlight these tax credits as aggressive in some ways is almost an understatement. Production and labour credits have been increased – and several nuances have even further added to the mix. As an example, productions outside of major centres such as
It goes without saying that all the government tax credits in this area have simply assisted the private sector to come back strongly into the picture. In some cases even our famously conservative Canadian banks have stepped up to the plate a created some niche departments within the banks to address film financing.
Let’s focus back in on the financing of our tax credits. Film tax credit financing in
Your Canadian tax credits can be financed as soon as they are filed, that’s simply a strategy of ‘why wait for your cheque? In many instances if you can document a track record in the industry, solid budget and financial records, and certification eligibility then you can be considered for accrual financing. That is a very powerful financing strategy, allowing you to receive fund along the way prior to final tax credit filing. That’s a solid cash flow and working capital strategy for your production.
In summary, the current tax credit environment in
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