Striking Gold With Film Tax Credits

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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 Canada's 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 least, 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!

Stan Prokop - founder of 7 Park Avenue Financial –
Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 10 years - Completed in excess of 100 Million $$ of financing for Canadian corporations . Core competancies include receivables financing, asset based lending, working capital, equipment finance, franchise finance and tax credit financing. Info & Contact Details :
http://www.7parkavenuefinancial.com

7 Park Avenue Financial

South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8

Direct Line = 416 319 5769

Office = 905 829 2653

Email = sprokop@7parkavenuefinancial.com


'

Canadian Business Financing with the intelligent use of experience '


ABOUT THE AUTHOR

Stan has had a successful career with some of the world’s largest and most successful corporations.
Prior to founding 7 Park Avenue Financial in 2004 his employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) He is an expert in Canadian Business Financing.

Stan has over 40 years of business and finance executive experience. He has been recognized as a credit/financial executive for three of the largest technology companies in the world; Hewlett-Packard, Digital Equipment and Cable & Wireless. Stan has had in depth, hands on experience in assessing and evaluating thousands of companies that are seeking financing and expansion. He has been instrumental in helping many companies progress through every phase of financing, mergers & acquisitions, sales and marketing and human resources. Stan has worked with startups and public corporations and has many times established the financial wherewithal of organizations before approving millions of dollars of financing facilities and instruments on behalf of his employers.


Stan Prokop




Article Source: http://EzineArticles.com/expert/Stan_Prokop/432698

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