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!

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!

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!

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!

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

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!

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!