Descriptive Notes And Contents List
Tax
shelters have traditionally been the preserve
of rich families and corporations wanting to
turn today's highly taxed income into tomorrow's
lowly-taxed capital gains.
Film-making,
like forest plantation and high-tech company
development, has the key tax shelter characteristic
of requiring investment over a period of time,
with returns deferred until the film is released.
There may also be a long tail of 'rights' income
from world-wide distribution, video and dvd
sales etc. Classically, films were too risky
to be used for tax shelters, but the introduction
of completion guarantees and of intermediate
media holding companies to spread risk has now
overcome that problem.
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