Film and Television Tax Credit (FTTC)
No funding is involved
Tax Credit
Description:
The Film and Television Tax Credit (FTTC) offers a refundable Alberta tax credit on eligible production costs to corporations that produce films, television series, and other eligible screen-based productions in the province.
Comments on Funding:
The FTTC program offers a refundable Alberta tax credit on eligible production costs to corporations that produce films, television series, and other eligible screen-based productions in the province. Applicants may apply for either a 22% or 30% tax credit.
Continuous Intake
Eligibility:
Applicants must:
Eligible for the 22% Tax Credit Rate
1. Be primarily engaged in film, television, and/or digital media production.
2. Be incorporated in Alberta under the Business Corporations Act, registered as an extra-provincial company in Alberta, and/or continued as an Alberta company through a Certificate of Continuance
3. Not be exempt from paying taxes under the Alberta Corporate Tax Act (or be controlled by a corporation that is)
4. Have not received funding from the Alberta Production Grant or the Alberta Screen-Based Production Grant for the project
5. Have a valid commercial distribution plan in respect of the final project
6. Have secured at least 50% of its production financing at the time of application.
Eligible for 30% Tax Credit Rate for Alberta-owned productions
1. Meet the criteria described in the 22% tax credit rate
2. Be owned by eligible individuals, at least 50% of the project, whether as individuals, members of a partnership or voting shareholders of a corporation
3. Have at least one Alberta-based producer with a single card credit recognition. Where multiple Alberta-based producers are engaged, it is acceptable for the Alberta-based producers to share a credit
4. The production’s copyright must be held, at least in part, by an Alberta-based individual, partnership, or corporation at the time of application and for a minimum of 10 years following the completion of production
5. At least 60% of the total production costs must be eligible production costs OR at least 70% of the total labour costs must be made up of eligible Alberta salary or wages.
Application Steps:
Applicants must:
1. Review the Film and Television Tax Credit Program Guidelines and associated supplementary forms to familiarize themselves with the criteria and requirements.
2. Create a user account and log into the online application portal
3. Complete and submit an online application.
Note: Applicants are encouraged to review the Film and Television Tax Credit Application Companion Guide before filling out and submitting an application.
Documentation Needed:
Applicants must:
1. Submit corporate information, including Articles of Incorporation and a short summary of the primary business.
2. Submit an overview of the production, including production synopsis, schedule, genre, filming locations.
3. Submit production’s estimated economic impact on Alberta and Alberta’s film and television industry. Specific measures and information on number of unique employees hired and spending in Alberta are detailed in the FTTC program application portal.
4. Submit an estimated total production costs worksheet that includes:
–Estimated total production costs;
–Estimated eligible production costs; and
–Estimated breakdown of budget for each taxation year the applicant is expected to claim the tax credits in (for multiple tax credits only).
5. Submit a summary of production financing form listing their sources of production financing, including estimated designated assistance.
6. Submit evidence of financing to substantiate at least 50% secured funding in the forms of signed agreements
7. Submit distribution agreement (signed agreements for any distribution or broadcast license agreements)
8. Submit related party transaction form (required only if it is expected that related party transactions will be incurred and paid in Alberta).
9. Submit copies of co-production agreement(s) (required only if the production is an international treaty co-production).
Other Things to Note:
About the author
Maurice
