Canadian Film Tax Credits Film Production 7 Park Avenue Financial

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Why You Should Use Canadian Film Tax Credits For Your Film Production Financing
Let Film Tax Incentives Work For Your Canadian Projects

You Are Looking For Financing for your Canadian film tax credits on your film production

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Don’t consider using Canadian film tax credits for film production if your film production has all the financing you need and your current projects are totally financed and will achieve a solid return on investment for your project.

Unfortunately, we haven’t met one producer or project owner in film, television and animation that seems to have all the funding they need and in place! We've heard they exist, I guess we just haven’t met them.

The Canadian government, and more often than not Ontario, British Columbia and the Maritimes are totally focused on providing you with non-repayable funding for your projects in the genres of film, TV and the growing genre of animated features. They are offering, so what aren’t you taking?!

We are pretty sure the Canadian film tax credits have the same goal as in other parts of the world, namely the stimulation of investment and employment.

If your film production (we will use that term interchangeably with tv/animation) requires additional funding (which project doesn’t?) the provincial film funds can provide you with anywhere from 30 - 45% of your entire budget. And by the way, that’s not a loan, that’s tax credits that are certified and come back to you as the project owner in the form of a cheque - In Hollywood terms, the government wants to 'show you the money'!

We are often asked why Canadian film tax credits vary when we meet with clients and discuss broad ranges of percentage funding of your project. It all comes down to a few simple issues around which of the 6 available tax credits you use (we recommend you use the one that will give you the most funds by the way!) and where your project is originated re: shooting, production, development, post-development, etc.

We encourage clients to seek an advisor who is trusted, credible and experiences in Canadian film tax credits for film production.  That allows you to maximize your funding, ensure you are eligible, and, as we have said, allow you to 'max out', so to speak, on the credits that are applicable to your particular project.

What you need to do is ensure your project qualifies and that you are aware of the application, filing and other regulations that come into play that allow you to receive funds.

And oh yes, by the way, you could wait for 3, 6, or even 12 months for your funds, but we recommend all clients assess the financeability of your credits before you receive the cheque. Financing your Canadian film tax credits allows you to monetize that future credit into a bridge loan, collateralized by the credit, and provides you with cash flow and working capital for your current production.

Financing your film production via the monetization of your tax credits involves just a few basics - ensuring you have your other debt and equity in place, validating your credit and budgets as eligible, and ensuring your financial filings are up to date.

Speak to a trusted expert in Canadian film financing to achieve additional funding for your projects - maximize on that film tax credit, and consider borrowing against it for funding you need now.  Fade to credits!

 

 

 

 

 

 

 

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' Canadian Business Financing With The Intelligent Use Of Experience '

 STAN PROKOP
7 Park Avenue Financial/Copyright/2024

 

 

 

 

 

Stan Prokop is the founder of 7 Park Avenue Financial and a recognized expert on Canadian Business Financing. Since 2004 Stan has helped hundreds of small, medium and large organizations achieve the financing they need to survive and grow. He has decades of credit and lending experience working for firms such as Hewlett Packard / Cable & Wireless / Ashland Oil