http://www.caymanfilm.com/index.html
The Cayman Islands Film Commissions (CIFC) new film incentive package -- offering a 30% rebate on film, video, commercial, and television productions that film in the Cayman Islands. The CIFC is working closely with local vendors to offer special rates for a variety of necessary support services in addition to other Government agencies. The territory is a major financial centre offering the film industry a stable tax-neutral platform for shooting motion pictures, television and still photography.
The Cayman Islands are a diverse group of islands offering the film industry a tax free haven for shooting still photography and motion pictures.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Wednesday, June 30, 2010
Tuesday, June 29, 2010
Tax Credit - Canada, Yukon
www.reelyukon.com
Yukon Film Development Fund
Eligible Yukon residents or Yukon corporations may access financial contributions of up to 50% of the actual Yukon
expenditures to a maximum of $35,000 or 33% of total project expenses.
Eligibility
- Applicants need to have a broadcast development agreement, or a distribution arrangement in place in order to access
funds under this program.
Yukon Film Production Fund
This program provides up to $500,000 in funding per project for Yukon corporations who financially and creatively control
projects to assist with the costs of producing a film in Yukon. For productions solely controlled by a Yukon resident or
corporation, the contributions will be based on 30% of Yukon expenditures or 30% of total production costs whichever is
the lesser. The contribution for co-productions will be based on the lesser of 30% of Yukon expenditures or 20% of total
production costs. An additional $10,000 may be available to an applicant if the broadcaster/distributor requires more
senior personnel not available in Yukon to be attached to the project.
Eligibility
- Applicants must have a commitment by a licensed broadcaster to participate financially in the production of the project,
or a distribution arrangement.
The Yukon Filmmakers Fund
Through this program film and video professionals who are Canadian citizens or landed immigrants and who have
resided in Yukon for at least one year may access up to $5,000 for the development of films and videos for broadcast or
commercial release.
Yukon Film Training Initiative
This program assists Yukon residents to undertake training in film production or post-production. Funding may be applied
to tuition costs, and/or the costs of texts and supplies.
For non-Yukon filmmakers, the following incentives are available.
- Travel Rebate
Yukon Film and Sound Commission will provide rebates of up to 50% of the cost of filmmakers’ travel from
Calgary, Edmonton or Vancouver to Whitehorse.
- Labour Rebate
Eligible productions can access a 35% labour rebate on eligible Yukon labour. For the purpose of this rebate, eligible
Yukon labour costs are capped at 50% of total Yukon expenditures.
- Eligibility
The production must be either dramatic television, a movie-of-the-week, or a feature film. In the case of documentaries,
evidence of a broadcast license must be supplied.
Yukon labour content must equal or exceed 25% of the total person days on the Yukon portion of the production.
Training Rebate
The Yukon Film and Sound Commission may provide visiting productions with increased Yukon hire in order to take full
advantage of the Labour Rebate and may deem certain members of a film production crew “Yukon labour”
in order to access training opportunities for Yukon residents.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Yukon Film Development Fund
Eligible Yukon residents or Yukon corporations may access financial contributions of up to 50% of the actual Yukon
expenditures to a maximum of $35,000 or 33% of total project expenses.
Eligibility
- Applicants need to have a broadcast development agreement, or a distribution arrangement in place in order to access
funds under this program.
Yukon Film Production Fund
This program provides up to $500,000 in funding per project for Yukon corporations who financially and creatively control
projects to assist with the costs of producing a film in Yukon. For productions solely controlled by a Yukon resident or
corporation, the contributions will be based on 30% of Yukon expenditures or 30% of total production costs whichever is
the lesser. The contribution for co-productions will be based on the lesser of 30% of Yukon expenditures or 20% of total
production costs. An additional $10,000 may be available to an applicant if the broadcaster/distributor requires more
senior personnel not available in Yukon to be attached to the project.
Eligibility
- Applicants must have a commitment by a licensed broadcaster to participate financially in the production of the project,
or a distribution arrangement.
The Yukon Filmmakers Fund
Through this program film and video professionals who are Canadian citizens or landed immigrants and who have
resided in Yukon for at least one year may access up to $5,000 for the development of films and videos for broadcast or
commercial release.
Yukon Film Training Initiative
This program assists Yukon residents to undertake training in film production or post-production. Funding may be applied
to tuition costs, and/or the costs of texts and supplies.
For non-Yukon filmmakers, the following incentives are available.
- Travel Rebate
Yukon Film and Sound Commission will provide rebates of up to 50% of the cost of filmmakers’ travel from
Calgary, Edmonton or Vancouver to Whitehorse.
- Labour Rebate
Eligible productions can access a 35% labour rebate on eligible Yukon labour. For the purpose of this rebate, eligible
Yukon labour costs are capped at 50% of total Yukon expenditures.
- Eligibility
The production must be either dramatic television, a movie-of-the-week, or a feature film. In the case of documentaries,
evidence of a broadcast license must be supplied.
Yukon labour content must equal or exceed 25% of the total person days on the Yukon portion of the production.
Training Rebate
The Yukon Film and Sound Commission may provide visiting productions with increased Yukon hire in order to take full
advantage of the Labour Rebate and may deem certain members of a film production crew “Yukon labour”
in order to access training opportunities for Yukon residents.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Monday, June 28, 2010
Tax Credit - Canada, Saskatchewan
http://www.saskfilm.com/?s=taxcredit
Offering a tax credit of up to 55% of eligible labor on each individual project with no content or copyright restrictions, the program continues to be user-friendly, production-oriented and is designed to encourage film and television production in Saskatchewan. Saskatchewan's incentives are available for each production, without obligation to film additional projects in the province to qualify for an additional rebate. There are no financial caps per production and program applications are processed swiftly in the interests of the producer.
Saskatchewan's base tax credit will rebate 45% of the total wages of all eligible above-the-line and below-the-line Saskatchewan and deemed labor. Deemed labor can include non-Saskatchewan labor that provides mentorship to a Saskatchewan resident. Eligible salaries will be limited to no more than 50% of a production's total eligible budget. 25% of a production's total eligible labor costs are eligible for deeming.
The SFETC provides for an additional 5% bonus of total production expenditures in the province for productions that choose to film in smaller centers and rural areas (25 miles or more from the province's two major cities, Regina and Saskatoon) within the province. The rural bonus provides visiting and local producers with an opportunity to further reduce overall production expenditures and to take advantage of Saskatchewan's urban centers, historic towns and villages, rivers, lakes, valleys, badlands and breathtaking scenery.
The key position bonus is an incentive designed to encourage visiting and local producers to hire specific Saskatchewan crew members and technicians in below-the-line positions. Designed for productions with budgets of $3 million CDN or more, this additional 5% is eligible on projects that attain 6 out of 10 points on positions specified by the program. A list of eligible positions is available by contacting SaskFilm.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Offering a tax credit of up to 55% of eligible labor on each individual project with no content or copyright restrictions, the program continues to be user-friendly, production-oriented and is designed to encourage film and television production in Saskatchewan. Saskatchewan's incentives are available for each production, without obligation to film additional projects in the province to qualify for an additional rebate. There are no financial caps per production and program applications are processed swiftly in the interests of the producer.
Saskatchewan's base tax credit will rebate 45% of the total wages of all eligible above-the-line and below-the-line Saskatchewan and deemed labor. Deemed labor can include non-Saskatchewan labor that provides mentorship to a Saskatchewan resident. Eligible salaries will be limited to no more than 50% of a production's total eligible budget. 25% of a production's total eligible labor costs are eligible for deeming.
The SFETC provides for an additional 5% bonus of total production expenditures in the province for productions that choose to film in smaller centers and rural areas (25 miles or more from the province's two major cities, Regina and Saskatoon) within the province. The rural bonus provides visiting and local producers with an opportunity to further reduce overall production expenditures and to take advantage of Saskatchewan's urban centers, historic towns and villages, rivers, lakes, valleys, badlands and breathtaking scenery.
The key position bonus is an incentive designed to encourage visiting and local producers to hire specific Saskatchewan crew members and technicians in below-the-line positions. Designed for productions with budgets of $3 million CDN or more, this additional 5% is eligible on projects that attain 6 out of 10 points on positions specified by the program. A list of eligible positions is available by contacting SaskFilm.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Sunday, June 20, 2010
Tax Credit - Canada, Quebec
http://www.qftc.ca/tax-credits.php
QUEBEC offers some of the most advantageous cash rebates available in North America:
- 25 % cash-back on all expenses
- 20 % bonus on all CGI and Green screen shots applicable on extended eligible labor.
- No minimum spend, no caps
In Quebec, the tax credit is based on all expenditures and the producer is not required to release the film in Québec.
This tax credit corresponds to 25% of all expenditures, with no prescribed limit, paid to Québec residents or Québec companies.
For digital special effects (VFX) and computer animation, a 20% tax credit enhancement is added, on extended eligible labor. Equally, filming in front of a green screen is included in the credit enhancement.
At the federal level, you get an additional tax incentive of 16%, net of any assistance, of eligible labour expenditures within Canada (CISP).
YOUR TOTAL EFFECTIVE TAX CREDIT COULD REACH UP TO 47.7%. For further details, please contact Hans Fraikin, Film Commissioner or Sylvain Gagné, Deputy Commissioner at 514-499-7070 or toll free at 1-866-320-3456.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
QUEBEC offers some of the most advantageous cash rebates available in North America:
- 25 % cash-back on all expenses
- 20 % bonus on all CGI and Green screen shots applicable on extended eligible labor.
- No minimum spend, no caps
In Quebec, the tax credit is based on all expenditures and the producer is not required to release the film in Québec.
This tax credit corresponds to 25% of all expenditures, with no prescribed limit, paid to Québec residents or Québec companies.
For digital special effects (VFX) and computer animation, a 20% tax credit enhancement is added, on extended eligible labor. Equally, filming in front of a green screen is included in the credit enhancement.
At the federal level, you get an additional tax incentive of 16%, net of any assistance, of eligible labour expenditures within Canada (CISP).
YOUR TOTAL EFFECTIVE TAX CREDIT COULD REACH UP TO 47.7%. For further details, please contact Hans Fraikin, Film Commissioner or Sylvain Gagné, Deputy Commissioner at 514-499-7070 or toll free at 1-866-320-3456.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Thursday, June 17, 2010
Tax Credit - Canada, Prince Edward Island
http://www.gov.pe.ca/development/ptrp/index.php3
The program is currently under review and no incentives available at this time.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
The program is currently under review and no incentives available at this time.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Wednesday, June 16, 2010
Tax Credit - CANADA, Ontario
http://www.omdc.on.ca/Page3399.aspx
What Is It?
The OFTTC is a refundable tax credit based upon eligible Ontario labour expenditures incurred by a qualifying production company with respect to an eligible Ontario production. The OFTTC is generally “harmonized” with the Canadian Film or Video Production Tax Credit.
How Much Is The Tax Credit?
The OFTTC is generally calculated as 35% of the eligible Ontario labour expenditures incurred by a qualifying production company with respect to an eligible Ontario production. An enhanced credit rate of 40% on the first $240,000 of qualifying labour expenditure is available for first time producers. Productions that are shot in Ontario entirely outside of the Greater Toronto Area (“GTA”) or that have at least five location days in Ontario (or in the case of a television series, the number of location days is at least equal to the number of episodes), and at least 85% of the location days in Ontario are outside the GTA, receive a 10% bonus on all Ontario labour expenditures incurred for the production. Wholly animated productions which perform at least 85% of key animation in Ontario outside of the GTA qualify for the regional bonus.
Who Is Eligible?
A qualifying production company is a Canadian corporation which is Canadian-controlled, has a permanent establishment in Ontario, and files an Ontario corporate tax return. In addition, the individual producer of the production must have been an Ontario resident for tax purposes at the end of both of the two calendar years prior to commencement of principal photography.
What Types of Production Are Eligible?
An eligible Ontario production is a production which:
has 6 Canadian content points (unless it is an official treaty co-production)
is predominantly shot and posted in Ontario (Note: There are exceptions for documentaries,interprovincial co-productions and international treaty co-productions)
spends at least 75% of its total final costs on Ontario expenditures
if for television, is suitable for a minimum 30 minute time slot (except children’s programming)
has an agreement with an Ontario-based distributor or a Canadian broadcaster to be shown in Ontario within 2 years of completion (broadcast must occur between 7:00 p.m. and 11:00 p.m., except for children’s programming)
is not in an excluded genre (such as news or current affairs, talk shows, game shows, sports shows, awards shows, fundraising shows, reality television)
What Expenditures Are Eligible?
Eligible Ontario labour expenditures consist of:
Salaries and wages paid to Ontario residents;
Remuneration paid to:
a) corporations that are personal service companies subject to tax in Ontario for the services of an Ontario resident,
b) sole proprietors or freelancers subject to tax in Ontario,
c) partnerships, for the services of a partner subject to tax in Ontario, and
d) taxable Canadian corporations with a permanent establishment in Ontario for the services of their employee(s) who are Ontario residents; and
Reimbursements by a wholly-owned production company to its parent company for labour expenditures, as above, that were paid by the parent company on behalf of the production company.
Ontario residents are individuals who were resident in Ontario for tax purposes at the end of the calendar year prior to commencement of principal photography. The labour expenditures of a corporation for the purposes of the OFTTC must be reasonable and must be included in the cost of the production.
Labour expenditures must not only be incurred but must also be paid in the taxation year (or within 60 days after the end of the taxation year) for which they are being claimed.
Eligible labour expenditures include those incurred from the production commencement time (PCT) until the end of post-production. Productions can claim eligible labour expenditures possibly as early as two years prior to the commencement of principal photography. This may include labour expenditures for script development.
How to Determine Production Commencement Time (PCT)?
To determine the PCT date, the applicant must take the earlier of a) or b):
a) is the commencement of principal photography (PP);
b) is the latest of the following 3 dates:
i) the date the first labour expenses for script material were incurred by the applicant (or their parent corporation);
ii) the date the applicant (or their parent corporation) acquired the property on which the production is based; and
iii) 2 years before commencement of principal photography
How Is The Credit Administered?
The OFTTC is jointly administered by the Ontario Media Development Corporation (OMDC) - an agency of the Ministry of Tourism and Culture. Application is made to the OMDC for a certificate of eligibility, which the production company files with the Canada Revenue Agency together with its tax return in order to claim the OFTTC. The amount of the credit, net of any Ontario taxes owing, will be paid to the qualifying corporation. If the qualifying corporation does not owe any taxes, the full amount will be paid out.
* PLEASE NOTE: CANADA REVENUE AGENCY (CRA) WILL ADMINISTER BOTH FEDERAL AND ONTARIO CORPORATE TAXES FOR TAXATION YEARS ENDING AFTER DECEMBER 31, 2008. PLEASE BE ADVISED THAT AS OF JANUARY 1ST 2009, THE CRA HAS BECOME THE FIRST POINT OF CONTACT FOR ALL CORPORATE TAX ENQUIRIES. (1 800 959-5525)
Remember to exclude the tax credit from the film budget.
Check QuickFilmBudget.com for a sample film budget!
What Is It?
The OFTTC is a refundable tax credit based upon eligible Ontario labour expenditures incurred by a qualifying production company with respect to an eligible Ontario production. The OFTTC is generally “harmonized” with the Canadian Film or Video Production Tax Credit.
How Much Is The Tax Credit?
The OFTTC is generally calculated as 35% of the eligible Ontario labour expenditures incurred by a qualifying production company with respect to an eligible Ontario production. An enhanced credit rate of 40% on the first $240,000 of qualifying labour expenditure is available for first time producers. Productions that are shot in Ontario entirely outside of the Greater Toronto Area (“GTA”) or that have at least five location days in Ontario (or in the case of a television series, the number of location days is at least equal to the number of episodes), and at least 85% of the location days in Ontario are outside the GTA, receive a 10% bonus on all Ontario labour expenditures incurred for the production. Wholly animated productions which perform at least 85% of key animation in Ontario outside of the GTA qualify for the regional bonus.
Who Is Eligible?
A qualifying production company is a Canadian corporation which is Canadian-controlled, has a permanent establishment in Ontario, and files an Ontario corporate tax return. In addition, the individual producer of the production must have been an Ontario resident for tax purposes at the end of both of the two calendar years prior to commencement of principal photography.
What Types of Production Are Eligible?
An eligible Ontario production is a production which:
has 6 Canadian content points (unless it is an official treaty co-production)
is predominantly shot and posted in Ontario (Note: There are exceptions for documentaries,interprovincial co-productions and international treaty co-productions)
spends at least 75% of its total final costs on Ontario expenditures
if for television, is suitable for a minimum 30 minute time slot (except children’s programming)
has an agreement with an Ontario-based distributor or a Canadian broadcaster to be shown in Ontario within 2 years of completion (broadcast must occur between 7:00 p.m. and 11:00 p.m., except for children’s programming)
is not in an excluded genre (such as news or current affairs, talk shows, game shows, sports shows, awards shows, fundraising shows, reality television)
What Expenditures Are Eligible?
Eligible Ontario labour expenditures consist of:
Salaries and wages paid to Ontario residents;
Remuneration paid to:
a) corporations that are personal service companies subject to tax in Ontario for the services of an Ontario resident,
b) sole proprietors or freelancers subject to tax in Ontario,
c) partnerships, for the services of a partner subject to tax in Ontario, and
d) taxable Canadian corporations with a permanent establishment in Ontario for the services of their employee(s) who are Ontario residents; and
Reimbursements by a wholly-owned production company to its parent company for labour expenditures, as above, that were paid by the parent company on behalf of the production company.
Ontario residents are individuals who were resident in Ontario for tax purposes at the end of the calendar year prior to commencement of principal photography. The labour expenditures of a corporation for the purposes of the OFTTC must be reasonable and must be included in the cost of the production.
Labour expenditures must not only be incurred but must also be paid in the taxation year (or within 60 days after the end of the taxation year) for which they are being claimed.
Eligible labour expenditures include those incurred from the production commencement time (PCT) until the end of post-production. Productions can claim eligible labour expenditures possibly as early as two years prior to the commencement of principal photography. This may include labour expenditures for script development.
How to Determine Production Commencement Time (PCT)?
To determine the PCT date, the applicant must take the earlier of a) or b):
a) is the commencement of principal photography (PP);
b) is the latest of the following 3 dates:
i) the date the first labour expenses for script material were incurred by the applicant (or their parent corporation);
ii) the date the applicant (or their parent corporation) acquired the property on which the production is based; and
iii) 2 years before commencement of principal photography
How Is The Credit Administered?
The OFTTC is jointly administered by the Ontario Media Development Corporation (OMDC) - an agency of the Ministry of Tourism and Culture. Application is made to the OMDC for a certificate of eligibility, which the production company files with the Canada Revenue Agency together with its tax return in order to claim the OFTTC. The amount of the credit, net of any Ontario taxes owing, will be paid to the qualifying corporation. If the qualifying corporation does not owe any taxes, the full amount will be paid out.
* PLEASE NOTE: CANADA REVENUE AGENCY (CRA) WILL ADMINISTER BOTH FEDERAL AND ONTARIO CORPORATE TAXES FOR TAXATION YEARS ENDING AFTER DECEMBER 31, 2008. PLEASE BE ADVISED THAT AS OF JANUARY 1ST 2009, THE CRA HAS BECOME THE FIRST POINT OF CONTACT FOR ALL CORPORATE TAX ENQUIRIES. (1 800 959-5525)
Remember to exclude the tax credit from the film budget.
Check QuickFilmBudget.com for a sample film budget!
Monday, June 14, 2010
Tax Credit - CANADA, Nova Scotia
http://film.ns.ca/?q=node/18
This program is a fully refundable corporate income tax credit. It is a labour-based credit that encourages the development, training and hiring of Nova Scotia film personnel in all disciplines. Film Nova Scotia administers this program on behalf of the Nova Scotia Department of Finance. The credit currently ranges from 50% to 65%.
Eligibility
The Tax Credit is available to qualifying productions and co-productions produced and/or shot in Nova Scotia. Production companies applying for the Tax Credit must have a permanent establishment in Nova Scotia (a fixed place of business, a production office, a branch etc.) and must be incorporated under the laws of Nova Scotia, another province of Canada, or Canada.
Eligible genres include television, videotape, feature film, non-theatrical production and the subject is drama, variety, performing arts, animated or informational series, documentary or music programming, including music videos. There is no limit on the size of the production budget, no corporate or asset cap, and no Canadian content or copyright ownership requirements associated with this Tax Credit. The Tax Credit is not reduced by any other tax credits that the production may receive.
Calculations
The Tax Credit is calculated as the lesser of 50% of eligible Nova Scotia labour or 25% of the total production costs for productions that occur in the Halifax region (Metro Halifax) or the lesser of 60% of eligible Nova Scotia labour or 30% of total production costs for productions that occur in other regions (Eligible Geographic Areas) of the province, for productions commencing principal photography after October 1, 2007.
Eligible Geographic Areas (EGA) of the province are considered to be those locations that are located 30km driving distance or more from Halifax City Hall. For greater clarity, this area is bounded by the Mount Uniacke exit of Highway 101; the Halifax International Airport exit of Highway 102; the Tantallon exit of Highway 103; and the Porters Lake exit of Highway 107. If less than 50% of the days of principal photography are shot outside Metro Halifax, the Regional bonus is prorated based on the number of days principal photography is shot outside the Halifax Region.
Application Process
To apply, producers must submit a completed Part B application to Film Nova Scotia for processing. Complete applications must be received within 30 months of the taxation year in which eligible expenses were incurred and paid. Once Film Nova Scotia reviews this application it is sent to the Nova Scotia Department of Finance, where an authorization certificate will be issued to the production company outlining the actual eligible tax credit amount. Producers can file this certificate with their corporate tax return in order to receive their refund.
Applications must be accompanied by the processing fee of 0.2% of eligible Nova Scotia labour (minimum $200, maximum $2,000 per application) plus 13% HST.
Part A Applications
As of August 1st, 2009, Film Nova Scotia is no longer accepting Part A Applications for the Nova Scotia Film industry Tax Credit. If you still require a Part A Letter, you should contact any one of the private accounting firms that provide this service.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
This program is a fully refundable corporate income tax credit. It is a labour-based credit that encourages the development, training and hiring of Nova Scotia film personnel in all disciplines. Film Nova Scotia administers this program on behalf of the Nova Scotia Department of Finance. The credit currently ranges from 50% to 65%.
Eligibility
The Tax Credit is available to qualifying productions and co-productions produced and/or shot in Nova Scotia. Production companies applying for the Tax Credit must have a permanent establishment in Nova Scotia (a fixed place of business, a production office, a branch etc.) and must be incorporated under the laws of Nova Scotia, another province of Canada, or Canada.
Eligible genres include television, videotape, feature film, non-theatrical production and the subject is drama, variety, performing arts, animated or informational series, documentary or music programming, including music videos. There is no limit on the size of the production budget, no corporate or asset cap, and no Canadian content or copyright ownership requirements associated with this Tax Credit. The Tax Credit is not reduced by any other tax credits that the production may receive.
Calculations
The Tax Credit is calculated as the lesser of 50% of eligible Nova Scotia labour or 25% of the total production costs for productions that occur in the Halifax region (Metro Halifax) or the lesser of 60% of eligible Nova Scotia labour or 30% of total production costs for productions that occur in other regions (Eligible Geographic Areas) of the province, for productions commencing principal photography after October 1, 2007.
Eligible Geographic Areas (EGA) of the province are considered to be those locations that are located 30km driving distance or more from Halifax City Hall. For greater clarity, this area is bounded by the Mount Uniacke exit of Highway 101; the Halifax International Airport exit of Highway 102; the Tantallon exit of Highway 103; and the Porters Lake exit of Highway 107. If less than 50% of the days of principal photography are shot outside Metro Halifax, the Regional bonus is prorated based on the number of days principal photography is shot outside the Halifax Region.
Application Process
To apply, producers must submit a completed Part B application to Film Nova Scotia for processing. Complete applications must be received within 30 months of the taxation year in which eligible expenses were incurred and paid. Once Film Nova Scotia reviews this application it is sent to the Nova Scotia Department of Finance, where an authorization certificate will be issued to the production company outlining the actual eligible tax credit amount. Producers can file this certificate with their corporate tax return in order to receive their refund.
Applications must be accompanied by the processing fee of 0.2% of eligible Nova Scotia labour (minimum $200, maximum $2,000 per application) plus 13% HST.
Part A Applications
As of August 1st, 2009, Film Nova Scotia is no longer accepting Part A Applications for the Nova Scotia Film industry Tax Credit. If you still require a Part A Letter, you should contact any one of the private accounting firms that provide this service.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Friday, June 11, 2010
Tax Credit - CANADA, Newfoundland and Labrador
http://www.nlfdc.ca/taxcredit.asp
The Newfoundland and Labrador Film and Video Industry Tax Credit is a fully refundable corporate income tax credit administered by the Newfoundland and Labrador Film Development Corporation (NLFDC) for the Newfoundland and Labrador Department of Finance. The program encourages the development, training and hiring of Newfoundland film personnel in all disciplines.
The Newfoundland and Labrador Film Tax Credit is a provincial corporate tax credit.
The tax credit provides incentives to the private film and television production industry to create economic growth in the Province.
The credit is based on a calculation of eligible labour limited to the lesser of 25% of the total eligible budget or 40% of the total eligible labour expenditures.
Once the production company's final audited cost report breaking out the eligible Newfoundland and Labrador labour expenditure is submitted for review, the Newfoundland and Labrador Department of Finance may issue a certificate to be filed with the production company's corporate tax return.
The credit may also be considered as part of a producer's equity in a given production.
At least 25% of the total salaries and wages must be paid in Newfoundland and Labrador to eligible employees.
Delivery Agency Newfoundland and Labrador Film Development Corporation
Tax Credit Rates: Lesser of 40% of eligible Newfoundland and Labrador labour expenditures or 25% of total production costs of an eligible project with no maximum.
Bonus Features: The NLFDC offers a Deeming Provision which allows the residency requirement to be waived when a qualified resident person is not available; and the non-resident person serves as a mentor of a resident of the province. In this case, 75% of the mentor’s salary and 100% of the resident mentored person’s salary is eligible for the tax credit. Requests must be forwarded to the NLFDC prior to the start of production along with the resumes of the mentor and trainee.
Project Criteria: At least 25% of salaries and wages paid by the corporation with respect to an eligible project shall be paid in the province to eligible employees.
Eligible Companies or Individuals: Must be incorporated under the Corporations Act or an Act of the Parliament of Canada or of the legislature of a province. Must have permanent establishment in the Province. It shall primarily carry on the business of film, television or video production. (Broadcaster / Cable Eligibility Broadcasters / cable companies are not eligible)
Certification: No CAVCO points required
Deductions from Total Eligible Expenses: Total production costs reduced by government assistance (other than government equity investment provided by the Canada Television Fund, Telefilm Canada, the Newfoundland and Labrador Film. Development Corporation and the National Film Board that is recoupable or repaid; and an amount received or receivable under the Canada Television and Cable Production Fund License Fee Program)
Program Cap: None
Project Cap / Corporate Cap: $3 million per 12 month period
Financing Features: Credit is refundable
User Fees: None
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
The Newfoundland and Labrador Film and Video Industry Tax Credit is a fully refundable corporate income tax credit administered by the Newfoundland and Labrador Film Development Corporation (NLFDC) for the Newfoundland and Labrador Department of Finance. The program encourages the development, training and hiring of Newfoundland film personnel in all disciplines.
The Newfoundland and Labrador Film Tax Credit is a provincial corporate tax credit.
The tax credit provides incentives to the private film and television production industry to create economic growth in the Province.
The credit is based on a calculation of eligible labour limited to the lesser of 25% of the total eligible budget or 40% of the total eligible labour expenditures.
Once the production company's final audited cost report breaking out the eligible Newfoundland and Labrador labour expenditure is submitted for review, the Newfoundland and Labrador Department of Finance may issue a certificate to be filed with the production company's corporate tax return.
The credit may also be considered as part of a producer's equity in a given production.
At least 25% of the total salaries and wages must be paid in Newfoundland and Labrador to eligible employees.
Delivery Agency Newfoundland and Labrador Film Development Corporation
Tax Credit Rates: Lesser of 40% of eligible Newfoundland and Labrador labour expenditures or 25% of total production costs of an eligible project with no maximum.
Bonus Features: The NLFDC offers a Deeming Provision which allows the residency requirement to be waived when a qualified resident person is not available; and the non-resident person serves as a mentor of a resident of the province. In this case, 75% of the mentor’s salary and 100% of the resident mentored person’s salary is eligible for the tax credit. Requests must be forwarded to the NLFDC prior to the start of production along with the resumes of the mentor and trainee.
Project Criteria: At least 25% of salaries and wages paid by the corporation with respect to an eligible project shall be paid in the province to eligible employees.
Eligible Companies or Individuals: Must be incorporated under the Corporations Act or an Act of the Parliament of Canada or of the legislature of a province. Must have permanent establishment in the Province. It shall primarily carry on the business of film, television or video production. (Broadcaster / Cable Eligibility Broadcasters / cable companies are not eligible)
Certification: No CAVCO points required
Deductions from Total Eligible Expenses: Total production costs reduced by government assistance (other than government equity investment provided by the Canada Television Fund, Telefilm Canada, the Newfoundland and Labrador Film. Development Corporation and the National Film Board that is recoupable or repaid; and an amount received or receivable under the Canada Television and Cable Production Fund License Fee Program)
Program Cap: None
Project Cap / Corporate Cap: $3 million per 12 month period
Financing Features: Credit is refundable
User Fees: None
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Thursday, June 10, 2010
Tax Credit - CANADA, New Brunswick
http://www.nbfilm.ca/home/intro.asp
The Government of New Brunswick has recently introduced changes to the New Brunswick Film Tax Credit. Currently, a tax credit is calculated as 40% of wages and salaries paid to New Brunswick personnel working on a film or television production shot within the Province. Effective January 1, 2010, an additional “regional” bonus of 10% of eligible labour costs became available for approved productions that take place 50 kilometres from Moncton, Fredericton or Saint John. The Department of Wellness, Culture and Sport is responsible for determining eligibility requirements, including the potential 10% regional bonus, and will verify all amounts claimed to qualify for the tax credit.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
The Government of New Brunswick has recently introduced changes to the New Brunswick Film Tax Credit. Currently, a tax credit is calculated as 40% of wages and salaries paid to New Brunswick personnel working on a film or television production shot within the Province. Effective January 1, 2010, an additional “regional” bonus of 10% of eligible labour costs became available for approved productions that take place 50 kilometres from Moncton, Fredericton or Saint John. The Department of Wellness, Culture and Sport is responsible for determining eligibility requirements, including the potential 10% regional bonus, and will verify all amounts claimed to qualify for the tax credit.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Wednesday, June 9, 2010
Tax Credit - CANADA, Manitoba
http://www.mbfilmmusic.ca/
The Manitoba Film and Video Production Tax Credit, which was set to expire March 1, 2011, has been extended to March 1, 2014, and production companies may now elect to claim a new tax credit based on a wider range of production costs incurred and paid.
Since 1997, a refundable tax credit for film and video productions has been available, based on eligible salaries paid to Manitoba residents and qualifying non-resident employees ("deemed residents") for work performed on an eligible film or video produced in Manitoba. When the program began, the rate of the credit was 35%; since March 9, 2005, the basic rate of the credit has been 45%.
Salary associated with a deemed resident who trains two or more Manitoba residents cannot exceed 30% of eligible salaries paid to Manitoba residents; or 10% if only one Manitoba resident is trained.
A 5% Manitoba producer bonus applies based on eligible salaries where a Manitoba resident receives credit as a producer on an eligible film.
A frequent filming incentive is also provided. A corporation that produces three eligible films in two years earns the additional credit on eligible salaries paid with respect to the third qualifying production. For productions commencing principal photography before January 1, 2008, the frequent film bonus is 5% and the percentage of eligible salaries associated with deemed residents is 20%. For productions commencing principal photography on or after that date, the frequent film bonus is 10% and the percentage of eligible salaries associated with deemed residents is 30%.
A 5% rural and northern incentive is provided based on eligible salaries paid for work performed in Manitoba on productions where a permanent establishment of the applicant corporation is located, and 50% of principal photography days took place, at least 35km from Winnipeg.
With the Manitoba producer bonus, the frequent filming incentive, and the rural and northern incentive, a film that meets all program criteria may now earn a maximum 65% credit on eligible salaries.
Starting with productions that commence principal photography after March 2010, production companies will be able to elect to claim either the film tax credit based on up to 65% of eligible labour costs (described above), or a new 30% tax credit based on production costs incurred and paid, for labour, goods, and services provided in Manitoba that are directly attributable to the production of an eligible film.
The following changes are also proposed, effective March 24, 2010:
production companies may file Form T2029, Waiver in Respect of the Normal Reassessment Period, to extend their application deadline by 18 months; amendments to the governing legislation will be made to provide the Province with greater flexibility to make changes in response to external changes; and federal limitation periods will be adopted for filing a Manitoba film tax credit certificate with the Canada Revenue Agency.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
The Manitoba Film and Video Production Tax Credit, which was set to expire March 1, 2011, has been extended to March 1, 2014, and production companies may now elect to claim a new tax credit based on a wider range of production costs incurred and paid.
Since 1997, a refundable tax credit for film and video productions has been available, based on eligible salaries paid to Manitoba residents and qualifying non-resident employees ("deemed residents") for work performed on an eligible film or video produced in Manitoba. When the program began, the rate of the credit was 35%; since March 9, 2005, the basic rate of the credit has been 45%.
Salary associated with a deemed resident who trains two or more Manitoba residents cannot exceed 30% of eligible salaries paid to Manitoba residents; or 10% if only one Manitoba resident is trained.
A 5% Manitoba producer bonus applies based on eligible salaries where a Manitoba resident receives credit as a producer on an eligible film.
A frequent filming incentive is also provided. A corporation that produces three eligible films in two years earns the additional credit on eligible salaries paid with respect to the third qualifying production. For productions commencing principal photography before January 1, 2008, the frequent film bonus is 5% and the percentage of eligible salaries associated with deemed residents is 20%. For productions commencing principal photography on or after that date, the frequent film bonus is 10% and the percentage of eligible salaries associated with deemed residents is 30%.
A 5% rural and northern incentive is provided based on eligible salaries paid for work performed in Manitoba on productions where a permanent establishment of the applicant corporation is located, and 50% of principal photography days took place, at least 35km from Winnipeg.
With the Manitoba producer bonus, the frequent filming incentive, and the rural and northern incentive, a film that meets all program criteria may now earn a maximum 65% credit on eligible salaries.
Starting with productions that commence principal photography after March 2010, production companies will be able to elect to claim either the film tax credit based on up to 65% of eligible labour costs (described above), or a new 30% tax credit based on production costs incurred and paid, for labour, goods, and services provided in Manitoba that are directly attributable to the production of an eligible film.
The following changes are also proposed, effective March 24, 2010:
production companies may file Form T2029, Waiver in Respect of the Normal Reassessment Period, to extend their application deadline by 18 months; amendments to the governing legislation will be made to provide the Province with greater flexibility to make changes in response to external changes; and federal limitation periods will be adopted for filing a Manitoba film tax credit certificate with the Canada Revenue Agency.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Tuesday, June 8, 2010
Tax Credit - CANADA, BC
Tax Credit Value Tax credit amount calculated based on…
http://www.bcfilm.bc.ca/downloadables/PSTC_onesheet_Mar2010.pdf
Basic PSTC 33% The accredited qualified BC labour expenditure of
the corporation.
Regional PSTC 6% The accredited qualified BC labour expenditure of
the corporation pro-rated by the number of days of
principal photography in British Columbia outside
of the designated Vancouver area to the total days
of principal photography in BC. This tax credit must
be accessed in conjunction with the Basic PSTC.
Distant Location Regional PSTC 6% The accredited qualified BC labour expenditure of
the corporation pro-rated by the number of days of
principal photography in British Columbia within a
prescribed area to the total days of principal
photography in BC. This tax credit must be
accessed in conjunction with the Regional PSTC.
Digital Animation or Visual Effects PSTC 17.5% The accredited qualified BC labour expenditures
directly attributable to digital animation or visual
effects activities. This tax credit must be accessed
in conjunction with the Basic PSTC.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
http://www.bcfilm.bc.ca/downloadables/PSTC_onesheet_Mar2010.pdf
Basic PSTC 33% The accredited qualified BC labour expenditure of
the corporation.
Regional PSTC 6% The accredited qualified BC labour expenditure of
the corporation pro-rated by the number of days of
principal photography in British Columbia outside
of the designated Vancouver area to the total days
of principal photography in BC. This tax credit must
be accessed in conjunction with the Basic PSTC.
Distant Location Regional PSTC 6% The accredited qualified BC labour expenditure of
the corporation pro-rated by the number of days of
principal photography in British Columbia within a
prescribed area to the total days of principal
photography in BC. This tax credit must be
accessed in conjunction with the Regional PSTC.
Digital Animation or Visual Effects PSTC 17.5% The accredited qualified BC labour expenditures
directly attributable to digital animation or visual
effects activities. This tax credit must be accessed
in conjunction with the Basic PSTC.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Monday, June 7, 2010
Tax Credit - CANADA, ALBERTA
www.albertafilm.ca
Alberta Film Development Program
The Alberta Film Development Program (the AFDP) provides direct grants rather than refundable tax credits. The AFDP is accessible through three funding streams based on the level of Albertan ownership and employment of Albertans in key creative positions. The AFDP will contribute between 14 and 23% of all eligible expenses incurred in Alberta, which is the equivalent of between a 25 and 42% labour tax credit. Productions are classified into three types based on the percentage of the production owned by Albertans: majority (51% or more) Albertan ownership, equal or minority (10% to 50%) Albertan ownership, and nominal (0 to 10%) Albertan ownership.
The maximum amount of funding available to any one project is $1.5 million.
Eligibility
The project must be supported by a broadcast license or a bona fide distribution agreement.
Recipients of funding under the AFDP must be incorporated in Alberta.
Funding is not available under the AFDP for productions which fall within an “excluded genre” (e.g. news reports, game shows, talk shows, etc.)
Eligible costs include all expenditures where the cost is incurred in Alberta and the value of the consumption of the goods or services is realized in Alberta.
Other Alberta Incentive Programs
Alberta Foundation for the Arts Cultural Industries Grant
Alberta Foundation for the Arts Commissions Individual Film and Video Artists Grant
Alberta Foundation for the Arts Film and Video Project Grant
Alberta Cultural Industries Association Loan Guarantee
You can find every production term definition at Quick Film Glossary.
Check QuickFilmBudget.com for sample film budget!
Alberta Film Development Program
The Alberta Film Development Program (the AFDP) provides direct grants rather than refundable tax credits. The AFDP is accessible through three funding streams based on the level of Albertan ownership and employment of Albertans in key creative positions. The AFDP will contribute between 14 and 23% of all eligible expenses incurred in Alberta, which is the equivalent of between a 25 and 42% labour tax credit. Productions are classified into three types based on the percentage of the production owned by Albertans: majority (51% or more) Albertan ownership, equal or minority (10% to 50%) Albertan ownership, and nominal (0 to 10%) Albertan ownership.
The maximum amount of funding available to any one project is $1.5 million.
Eligibility
The project must be supported by a broadcast license or a bona fide distribution agreement.
Recipients of funding under the AFDP must be incorporated in Alberta.
Funding is not available under the AFDP for productions which fall within an “excluded genre” (e.g. news reports, game shows, talk shows, etc.)
Eligible costs include all expenditures where the cost is incurred in Alberta and the value of the consumption of the goods or services is realized in Alberta.
Other Alberta Incentive Programs
Alberta Foundation for the Arts Cultural Industries Grant
Alberta Foundation for the Arts Commissions Individual Film and Video Artists Grant
Alberta Foundation for the Arts Film and Video Project Grant
Alberta Cultural Industries Association Loan Guarantee
You can find every production term definition at Quick Film Glossary.
Check QuickFilmBudget.com for sample film budget!
Friday, June 4, 2010
Tax Credit - CANADA FEDERAL
http://www.canadianheritage.gc.ca/cavco/pgm/cipc-cptc/cipc-cptc-eng.cfm
For a production to qualify as Canadian content for tax credit through CAVCO, the production must meet specific criteria for key creative personnel and production costs, which are outlined in our guidelines.
The CPTC is available at a rate of 25 percent of the qualified labour expenditure. Eligible salaries and wages qualifying for the tax credit may not exceed 60 percent of the cost of the production, net of assistance, as certified by the Minister of Canadian Heritage. Therefore, the tax credit could provide a maximum refund of up to 15 percent of the cost of production, net of assistance.
Look up any film words in Quick Film Glossary.
Check QuickFilmBudget.com for a sample film budget!
For a production to qualify as Canadian content for tax credit through CAVCO, the production must meet specific criteria for key creative personnel and production costs, which are outlined in our guidelines.
The CPTC is available at a rate of 25 percent of the qualified labour expenditure. Eligible salaries and wages qualifying for the tax credit may not exceed 60 percent of the cost of the production, net of assistance, as certified by the Minister of Canadian Heritage. Therefore, the tax credit could provide a maximum refund of up to 15 percent of the cost of production, net of assistance.
Look up any film words in Quick Film Glossary.
Check QuickFilmBudget.com for a sample film budget!
Thursday, June 3, 2010
FINAL DRAFT VP JOINS QFB
June 1, 2010
FOR IMMEDIATE RELEASE
FINAL DRAFT VP JOINS QUICKFILMBUDGET.COM
Los Angeles, CA — Nolan Lebovitz and Adam Lebovitz, owners and co-founders of Quick Film
Budget (QFB), have announced that Lynn Hacking has joined QFB as head of Sales &
Marketing. Formerly, Hacking was the Vice President of Sales & Marketing for Final Draft.
Hacking is considered a pioneer in entertainment industry technology and a leading proponent
for the technological advancement of the work flow for digital filmmaking worldwide.
"Everyone we queried about Mr. Hacking's performance during his thirteen year tenure at Final
Draft attributes a great deal of that company's overall success to him", says QFB's co-founder
Adam Lebovitz.
A film budget is a must have item for shopping your film project and to give your investors a
snapshot of how their money will be spent prior to the actual funding. "I came across
www.QuickFilmBudget.com while struggling with traditional budgeting software to create a
budget for my latest film's business plan. What normally takes at least ten days and costs at least
a thousand dollars was created for me in minutes, for a fraction of the cost. I immediately turned
a few of my working film producer buddies on to Quick Film Budget and they were equally as
impressed. I'm quite sure that we will make Quick Film Budget the new standard for creating
budgets and, by having the capacity to export the preliminary budget into the larger, more costly
stand alone budgeting software packages once the project has been funded, we have created a
"front door", which points to those more detailed and complex packages and their payroll
services. We have not only created a cost saving convenience for every budgeted entertainment
project, but a revolutionary new tool that points to the larger companies and their services. They
should love us," explains Mr. Hacking.
QFB recently announced that their PDF format is now available in modifiable files as Microsoft
Excel or Entertainment Partner's Movie Magic Budgeting. QFB's revolutionary approach to
budgeting from a "top down" matrix is presently endorsed by several insurance companies and is
already being considered by bonding companies. Mr. Hacking adds: "Life just got a lot easier
for Producers, who traditionally pull out their hair or their wallets creating a budget for shopping
their film projects. Our goal is to make QFB the 'front end' to the top, but costly, complicated
and time-consuming budgeting software packages and the still widely-used Excel format. We
will reach out to all companies that make budgeting software technology and the various
organizations, such as the Producer's Guild, to ensure that QFB becomes the new standard for
creating film budgets. QFB is the new tool that saves Producers the most important commodities
in film - both TIME and MONEY. "
-END-
For media inquiries, please contact:
Adam Lebovitz
Quick Film Budget, Inc.
310-927-2678
FOR IMMEDIATE RELEASE
FINAL DRAFT VP JOINS QUICKFILMBUDGET.COM
Los Angeles, CA — Nolan Lebovitz and Adam Lebovitz, owners and co-founders of Quick Film
Budget (QFB), have announced that Lynn Hacking has joined QFB as head of Sales &
Marketing. Formerly, Hacking was the Vice President of Sales & Marketing for Final Draft.
Hacking is considered a pioneer in entertainment industry technology and a leading proponent
for the technological advancement of the work flow for digital filmmaking worldwide.
"Everyone we queried about Mr. Hacking's performance during his thirteen year tenure at Final
Draft attributes a great deal of that company's overall success to him", says QFB's co-founder
Adam Lebovitz.
A film budget is a must have item for shopping your film project and to give your investors a
snapshot of how their money will be spent prior to the actual funding. "I came across
www.QuickFilmBudget.com while struggling with traditional budgeting software to create a
budget for my latest film's business plan. What normally takes at least ten days and costs at least
a thousand dollars was created for me in minutes, for a fraction of the cost. I immediately turned
a few of my working film producer buddies on to Quick Film Budget and they were equally as
impressed. I'm quite sure that we will make Quick Film Budget the new standard for creating
budgets and, by having the capacity to export the preliminary budget into the larger, more costly
stand alone budgeting software packages once the project has been funded, we have created a
"front door", which points to those more detailed and complex packages and their payroll
services. We have not only created a cost saving convenience for every budgeted entertainment
project, but a revolutionary new tool that points to the larger companies and their services. They
should love us," explains Mr. Hacking.
QFB recently announced that their PDF format is now available in modifiable files as Microsoft
Excel or Entertainment Partner's Movie Magic Budgeting. QFB's revolutionary approach to
budgeting from a "top down" matrix is presently endorsed by several insurance companies and is
already being considered by bonding companies. Mr. Hacking adds: "Life just got a lot easier
for Producers, who traditionally pull out their hair or their wallets creating a budget for shopping
their film projects. Our goal is to make QFB the 'front end' to the top, but costly, complicated
and time-consuming budgeting software packages and the still widely-used Excel format. We
will reach out to all companies that make budgeting software technology and the various
organizations, such as the Producer's Guild, to ensure that QFB becomes the new standard for
creating film budgets. QFB is the new tool that saves Producers the most important commodities
in film - both TIME and MONEY. "
-END-
For media inquiries, please contact:
Adam Lebovitz
Quick Film Budget, Inc.
310-927-2678
Wednesday, June 2, 2010
Tax Credit - BRAZIL- Rio de Janeiro
http://brazilfilmcommission.com/
The Rio Film Commission was created on September 23, 2009 and is headed by Steve Solot the former Latin American Senior vice President for the Motion Picture Association. As similar film commissions its main objective is to attract audiovisual productions to the State of Rio de Janeiro.
Among the plans which are being developed by Rio Film Commission is an incentive for foreign productions in the form of a non-returnable location production grant provided to eligible productions on the first day of production in the amount of 5% of the in-state production spends. In addition, the State of Rio offers an annual R$3 million credit in the form of an equity investment via the Rio Global Program, to one project per year, aimed at projects with commercial potential which promote Rio internationally.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
The Rio Film Commission was created on September 23, 2009 and is headed by Steve Solot the former Latin American Senior vice President for the Motion Picture Association. As similar film commissions its main objective is to attract audiovisual productions to the State of Rio de Janeiro.
Among the plans which are being developed by Rio Film Commission is an incentive for foreign productions in the form of a non-returnable location production grant provided to eligible productions on the first day of production in the amount of 5% of the in-state production spends. In addition, the State of Rio offers an annual R$3 million credit in the form of an equity investment via the Rio Global Program, to one project per year, aimed at projects with commercial potential which promote Rio internationally.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Tuesday, June 1, 2010
Tax Credit - AUSTRIA
http://www.screendaily.com/news/finance-news/austria-to-fast-track-launch-of-20m-film-incentive/5009900.article
The Austrian government is planning to pay out €5m ($7.1m) to film projects this year after ‘fast-tracking’ the introduction of its production incentive.
The scheme, which is modelled on Germany’s Federal Film Fund (DFFF), was announced by Austrian economics minster Reinhold Mitterlehner on Thursday (January 21). €5m will be paid out this year to qualifying projects, and €7.5m in each of the following two years.
The grants for Austrian feature films and documentaries as well as international co-productions and co-financing will only be awarded if the production costs paid out in Austria for film-related goods and services are at least 25% of the total production costs. (This could also be 20% for large productions with a budget over €10m or in specific individual cases.)
The maximum support for a single project will amount to 25% of the Austrian production costs or 15% of the fund’s annual budget.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
The Austrian government is planning to pay out €5m ($7.1m) to film projects this year after ‘fast-tracking’ the introduction of its production incentive.
The scheme, which is modelled on Germany’s Federal Film Fund (DFFF), was announced by Austrian economics minster Reinhold Mitterlehner on Thursday (January 21). €5m will be paid out this year to qualifying projects, and €7.5m in each of the following two years.
The grants for Austrian feature films and documentaries as well as international co-productions and co-financing will only be awarded if the production costs paid out in Austria for film-related goods and services are at least 25% of the total production costs. (This could also be 20% for large productions with a budget over €10m or in specific individual cases.)
The maximum support for a single project will amount to 25% of the Austrian production costs or 15% of the fund’s annual budget.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
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