R.C. Baral Canadian Tax Credit and Corporate Services
FILM TAX CREDITS
Provide complete handling of Canadian film and TV tax credits, including the following services:
- Incorporate Canadian production company
- Provide RC Baral management to act as directors and officers (optional)
- Provide a productions services agreement between Canadian Production company and the copyright owner
- Set up bank accounts
- Register for business numbers with CRA (GST and corporate tax)
- Prepare and file applications for preliminary certification
- Work with production accountants to ensure all costs are properly coded and tracked in the accounting system
- Review all costs to ensure maximum amounts are claimed
- Prepare Canadian production company’s yearend financial statements
- Prepare and file production company’s income tax return including all tax credit calculations and supporting documentation
- Work with CRA auditors throughout the audit and/or final review process
- Dissolve Canadian company.
Obtain waivers from Canadian withholding tax for non-resident actors & behind the scene personnel (Regulation 102 Waiver Application & Regulation 105 Waiver Application). Assist with filing T1261, Application for a RA individual Tax Number, or RC1, Request for a Business Number, as required.
Film corporate year ends – compiling film accounting information, preparing the necessary adjusting entries and preparing financial statements and Corporate income tax returns.