If you’re planning to produce a movie in Canada, there are several things you should know. There are some requirements you must meet and certain tax credits you can claim if you’re a production company. You should also know how much video production in Canada costs. Then, you’ll be better able to plan a budget.
Product-centric video production
Product-centric video production services empower brands by helping them communicate with their audiences. Video is one of the most effective marketing tools, and can help companies of all sizes reach out to a wider audience. Using the power of storytelling, video helps companies showcase their products in the best light. It helps them increase engagement and sales.
Product-centric videos can use various techniques to showcase products, such as slow-motion and motion graphics. They can also use live footage and on-screen text to describe a product. Set photography can also be used to create engaging videos. Some video production companies combine still photography and video shoot for a more comprehensive, integrated experience.
Canadian Film or Video Production Tax Credit
The Canadian Film or Video Production Tax Credit (CPTC) is a refundable tax credit given to Canadian producers of films and videos. It encourages the production of Canadian-made programming and helps create a domestic independent film and video industry. This tax credit is available for qualifying expenditure up to 25% of eligible labour expenses. To be eligible for the tax credit, a production must be a treaty co-production and meet certain criteria set out in the Income Tax Regulations.
The CRA and CAVCO administer this program, which offers tax credits for certain film and video productions. This tax credit is based on eligible labour expenditures paid to Canadian residents, or 20% of the production’s total expenditures. The credit is increased by 16% for digital special effects and filming in front of a green screen.
The CPTC program is available for Canadian productions and coproductions. A coproduction is a production in which two or more Canadian production companies work together to create a project. It is not considered a domestic coproduction if both companies have an equal share of creative responsibility. To receive the CPTC, both companies must be registered as producers with the CRA. The CAVCO website provides detailed information about the CPTC program and includes forms and an online application portal.
Eligible production costs include production costs, labour costs, and post-production costs. The total production costs must be less than $60k, minus any assistance received. The CPTC cannot exceed 15% of total production costs. The CRA provides an online guide for calculating eligible production costs and labour expenditures.
Requirements to be a Canadian production company
If you’re putting together a production in Canada, you need to meet certain requirements to be certified as a Canadian production company. For one, you must make sure that at least 75% of the production costs go to Canadian companies and people. To prove this, you must submit a Breakdown of Costs form. Also, any costs that are not Canadian must be documented in an affidavit. In addition, you must hire at least one Canadian for a central decision-making role on the production.
Another requirement to qualify as a Canadian production company is that you must hire a Canadian director or screenwriter. It’s also essential to hire a Canadian storyboard supervisor. Lastly, you need to hire a Canadian lead actor or actress. This is a very strict requirement that you need to meet in order to be considered a Canadian production company.
If you are considering being certified as a Canadian production company, you need to meet the CRTC requirements. For example, your production must have at least 10% Canadian content, but it doesn’t have to be 100 percent. CRTC has a website that details requirements for certification.
Another requirement for certification is that you must be a Canadian-controlled majority shareholder or minority shareholder. Furthermore, the production company must be a prescribed taxable Canadian corporation, and be operating primarily as a Canadian film or video production business. CPTC certificates can be used by broadcasters and other regulatory authorities in Canada.
CRTC has the right to grant approval to Canadian productions that meet the standards. However, you need to submit an application for each of these separately. This is because each application needs to be evaluated separately by Telefilm and CAVCO. Additionally, you need to hire Canadian producers and personnel.
Costs
When it comes to the costs of video production, there are many different things to consider. Generally, the more people involved in the production, the higher the overall cost. Additionally, hiring more talented people means more time and money spent. This can result in a higher final product. As a result, the cost of hiring a talented person can be a large part of the final video production budget.
Before you start shopping around for a production company, you should consider what your goals are. Creating a compelling video that will appeal to your target audience is essential for gaining credibility and establishing a brand. It’s also a great way to attract new clients and recruit new staff. A well-produced, premium-quality video can tell a compelling story with style and credibility.
As the costs of video production continue to drop, the number of skilled freelancers and small firms offering these services is also on the rise. Additionally, more consumers are watching video content, which means that your production budget is likely to make you a profit. According to a Wyzowl study, 79% of consumers prefer to learn about a product or service through video. Additionally, 84% of them have purchased a product after watching a video. As such, a modest investment in a quality video will yield a large return on your money.
Another factor that affects video production costs is length. While a 30 second commercial is cheaper than a talking head video, a long video will be more expensive. The length of a video depends on its intended use and platform, but the length of the video is often determined during the strategy stage.
Remuneration
In-house video production is an option for small business owners who want to keep costs down. This option requires existing staff to be freed up from their regular duties for the duration of the video. However, companies that plan to use video marketing on a regular basis may want to hire a specialist full-time to produce their videos. While this may not be feasible for all companies, it can add polish and professionalism to your videos. A logo animation service, for example, costs anywhere from $100 to $5,000.
The average video producer in Toronto, Ontario earns an average gross salary of $116,708 a year, which translates to $56 an hour. This is about 7% higher than the national average. This salary is further enhanced by an average bonus of $4,587. Based on surveys conducted with employers in Toronto, Ontario, Canada, the salary range for video producers varies from an entry-level wage of $82,280 to a senior-level salary of $143,722. As a general rule, the salary range increases by 10% every five years.
In addition to technical skills, a video producer must possess good communication skills and soft skills to be successful in their role. A video producer should have exceptional attention to detail, be able to work in a team environment, and be patient under pressure. Ideally, a video producer should have at least three years of professional experience in the industry.
