YOU’RE LOOKING FOR FILM / TV OR MEDIA TAX CREDIT FINANCING
ASSISTANCE!
You've arrived at the right address! Welcome to 7 Park Avenue Financial
Financing & Cash flow are the biggest issues facing business today
ARE YOU UNAWARE OR DISSATISFIED WITH YOUR CURRENT BUSINESS FINANCING OPTIONS?
CALL NOW - DIRECT LINE - 416 319 5769 - Let's talk or arrange a meeting to discuss your needs
EMAIL - sprokop@7parkavenuefinancial.com
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
Financing films in Canada can only be described as ... challenging! It surely must seem like a lifelong journey in efforts to finance projects for some producers and owners. A search will even reveal that numerous films and documentaries exist about the actual financing of a movie! Let's dig in.
Film finance companies in Canada exist but are surely not in abundance. So whether it’s the film and digital media tax credits that assist in financing projects or the other elements of a full financing package, it's critical to get some basics under your belt.
Canada's good news is that there are numerous incentives, primarily under a tax credit regime, that help you complete full financing. The tax credit itself is always a key part of the puzzle “.
In any aspect of business, outside expertise and experience always helps, and that’s an understatement when it comes to film. You want to know how to access various programs, how they work, and ensure you qualify for maximum financing.
The actual tax credit itself is typically a combination of a federal and provincial amount. Use the phrase ‘Don’t try this by yourself at home ' comes to mind when it comes to tax credits. While it is possible to file your own application and claim, your best bet is always to get the assistance of a film tax credit accountant-like many areas of accounting expertise; these folks ' maximize ' your claim and ensure you are qualifying for maximum allowable claims. By the way, it's not unusual for these credits alone to help finance up to 1/2 of your entire project, if not more sometimes.
It all starts with an application for a tax credit certificate. The formal name of the main credit is the ' Film Production Services Tax Credit. ‘ It is combined with the provincial part of the claim, which is driven by the province you choose to produce your project in. Many projects these days are ' Transmedia ' driven and involve digitization, special effects, etc. A separate credit is available for that part of any project.
Not everyone is aware that many ' Canadian ' projects in film, TV and media are in fact only ' partly ' Canadian - they are often ' co-productions, 'which is simply an arrangement that Canadian tax authorities have with many countries to assist in the same type of financing. Again specific rules apply. In truth, an actual ' point ' system exists and is a key part of the tax credit claim... i.e. maximizing points!
As an example, one of the most recent co-production approval agreements involves India... so of course, ' Hollywood North ' can also be called ' Bollywood North'!
If you're wondering what drives tax credit eligibility in Canada for film, the key areas of focus are production ownership, production costs, geographical location, etc.
FINANCING TAX CREDITS
Your applicable tax credits can easily be financed to ensure maximum cash flow. Loans are typically for 70% of your claim's value and provide solid cash flow for your existing or next project.
While we have focused mainly on tax credits for the obvious reason, film finance companies also assist with the other parts of the project financing puzzle - they include pre-sale financing, gap financing, and minimum guarantee financing.
If you're looking to get in the loop ‘ for a better ' fast track' on financing films, TV, and digital projects, seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with part or all of your project needs.
Click here for the business finance track record of 7 Park Avenue Financial
Stan Prokop
7 Park Avenue Financial/Copyright/2021/Rights Reserved
