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SERVICES
BTS is one-stop-shop for all your production finance and accounting needs. We offer a variety of conventional financial services ranging from bookkeeping & accounting, to Corporate and HST tax filings, to financial statement preparation. We handle Tax Credit certifications (CAVCO, Ontario Creates and Other Provincial Tax Credit Agencies) and other Film & TV certifications (CRTC Canadian Content, Telefilm International Treaty Co-Productions, and Interprovincial Co-Productions through the relevant Provincial Agencies). We also prepare and oversee the applications for other funding sources through agencies such as the CMF, Telefilm, the NOHFC and more.
BTS takes carriage of applications through their full life cycle, from the compilation of the preliminary application material, through to resolving any issues that the arise during the application process, through to managing the CPA and CRA audit, and lastly to the collection of the tax refunds or final funding drawdowns. And throughout the entire process, we’re there to help manage your production bank loan until it’s fully repaid.
We can also arrange for all production legal services through Lewis Birnberg Hanet, LLP.
Here is a more detailed listing of the services we perform:
ACCOUNTING
Perform development, prep, production and post accounting services on film and television productions. These accounting services include, but are not limited to, payroll processing, various tax filings (i.e. payroll, GST/HST…) and accounts payable processing
Supervise third-party production and post-production accountants
Prepare cash flow statements and projections
Monitor cost reports and costs throughout the production
Prepare audit binders for the CPA and/or CRA auditors
Prepare and issue cost reports, trial balances, general ledgers and other financial schedules for Producers
Advise Producers as to coding, cost tracking and allocation
Issue tax credit estimate opinion letters for financiers and interim financiers
Assist with the closing of interim financing facilities, including review/modification or preparation of budgets, financing plans and supporting schedules
Liaise with the external auditors to assist in completing the film audit and income tax return
FINANCIAL STATEMENTS AND CORPORATE TAX RETURNS
Prepare and issue financial statements and file corporate tax returns
BUSINESS ADMIN, TAX CREDITS & FUNDING
Prepare and file preliminary and final applications for federal and provincial film, television and digital media tax credits
Review and advise on contract modifications to maximize tax credits
Prepare and file applications for CRTC "Canadian Program" (i.e. Canadian content) status
Prepare and file applications with national and provincial funding organizations and agencies (i.e. CMF, Ontario Creates, Bell Fund, Telefilm, NOHFC…)
Liaise with production staff to ensure the required crew/cast documentation is prepared and collected
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 applications for International Treaty or Interprovincial co-production certification with Telefilm or provincial regulatory agencies
OTHER SERVICES
Prepare and issue Royalty and Residual Reports for Canadian guilds
Provide tax and corporate structure consulting services so as to ensure compliance with tax credit regulations and optimize the allocation of corporate costs that are eligible for tax credits
Compile Recoupment and Profit Reports for investors and profit participants