At BTS we manage all Canadian and US film and television tax incentive filings and collections, including preliminary applications, final applications and registrations, CPA and regulatory audit file preparations, and liaise with tax authorities through to the completion of the tax audit, collection of the tax refund(s) and repayment of bank loans. We can also provide all production legal services through Lewis Birnberg Hanet, LLP.

 

Our services include managing and completing all aspects of the tax credit filing and collection process including:

 

Accounting

 

  • Review budgets and financing structures

  • Supervise production accounting and post-production accounting

  • Advise the production accountant as to coding, cost tracking and allocation

  • Complete cash flows

  • Prepare the tax credit estimate opinion letter for financiers and/or the interim financiers

  • Assist with the closing of interim financing facility, including review/modification or preparation of budget, financing plan and supporting schedules

  • Monitor cost reports and costs throughout the production

 

 

Tax Credits & Funding

 

  • Prepare and file preliminary and final applications for the tax credits (federal, provincial or state)

  • Liaise with production staff to ensure the required crew/cast documentation is prepared and collected

  • Review and advise on contract modifications to maximize tax credits

  • Review the final cost report, trial balance and general ledger to ensure items are recorded in a manner to maximize potential tax incentives

  • Prepare and file the application for CRTC "Canadian Program" (i.e. Canadian content) status (if applicable)

  • Prepare and file the application(s) for International Treaty or Interprovincial co-productions with Telefilm or provincial regulatory agencies (if applicable)

  • Prepare and file application(s) with national and provincial funding organizations and agencies (ie. CMF, OMDC, Bell Fund, Telefilm)

 

Business Admin

 

  • Follow-up and respond to relevant government administrative authorities

  • Prepare the audit binder(s) for the CPA auditor

  • Supervise the preparation of the cost report and financial statements, including balance sheet and income statement, and liaise with the external auditors to assist in completing the film audit, and income tax returns

  • Provide administrative assistance to file HST returns for the production and liaise with CRA for HST refunds

  • Provide administrative assistance as to cash management and assist in the preparation of cash drawdowns as required

  • Set up of initial Canadian guild residual or royalty reports (if applicable)

  • Set up of initial investor or profit participant reports

 

 

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