The television and film industry is a significant part of the Canadian economy, contributing over $12 billion annually to the national GDP, and employing over 244,000 people. However, the industry has faced uncertainty in the past several years due to the pandemic causing production delays. Despite these challenges, the industry continued to flourish, with a 20.2% increase in revenue observed from 2019 to 2021. Government support plays a key role in facilitating this growth, with a number of tax credits and grants available both provincially and federally for companies with Canada-based productions.
As programs continue to open, program guidelines shift, and new legislation is introduced, production companies have new opportunities to take advantage of the support available. This blog will discuss new Canadian film grants, Canadian television funds, provincial tax incentives and grants, and other news that will be impacting the industry in 2024.
The Short Form Series Development Program, delivered jointly through the Canada Media Fund (CMF) and the Independent Production Fund (IPF), has been renewed for another year as of the beginning of 2024. With $900,000 in total funding available for Canadian short-form series, each project can receive up to $30,000. Applications to the program are due by March 1, 2024.
To assist productions impacted negatively by the pandemic, the Short-Term Compensation Fund was established in 2020, which provided hundreds Canadian audiovisual productions with funding to offset costs due to delayed or halted production. The program ended in 2023.
Alberta’s Budget 2023 announced an increase of $100 million over the next three years to create jobs and diversify the province’s economy. The Alberta Made Screen Industries Program encompasses grants for script development, production, and post-production and visual effects. In late 2023, the program announced over 150 projects would be supported through $2.8 million in grants. Additional applications to the Post-Production, Visual Effects and Animation Grant will be accepted before March 1.
Ontario has promised to modernize its film and television tax credits through extending the film and television tax credit to productions made available exclusively online. This will provide an additional $58 million in support to the industry. In addition to this, consultations are underway to reduce administrative complexity of the Ontario Computer Animation and Special Effects Tax Credit (OCASE).
Going forward, productions will be required to include on-screen acknowledgement of Ontario tax credits received throughout production.
With $4.2 million provided to the Nova Scotia Film and Television Production Incentive Fund in 2023, Nova Scotia’s growing industry is supported through Screen Nova Scotia as well as the Atlantic Filmmakers Cooperative. The Screen Nova Scotia Content Creator Fund is currently open for applications for 2024 productions.
The Domestic Motion Picture Program was established under Creative BC in 2020 to boost B.C.-based content during the pandemic. The program includes grants for shorts films and product and project development, as well as an Indigenous film fund, and an equity program. The Production and Project Development programs have deadlines on February 20, and March 31, respectively.
The Television Production Assistance Program, delivered under the Quebecor Fund, allotted over $1.5 million to projects at the end of 2023. In addition, legislation will be changing to allow documentary productions to meet production cost requirements more easily.
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Click here or here for more information on federal and provincial tax credit eligibility. Contact us for assistance with tax preparation or grant applications if your business is incorporated and working on a production.