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CTA09/S1181 (5)

For the purposes of the tax regime for film production introduced by FA06, a film is completed when it is first in a form in which it can reasonably be regarded as ready for presentation to the general public.

In the case of a film intended for theatrical release in the commercial cinema, this will normally be when it is ready to be delivered to a distributor, even if, exceptionally, it is later sent back to the producer for changes. (While a film may be exhibited earlier at a film festival, this may not be a completed version which would be released to the distributor. Indeed the purpose of exhibition at a festival may be to sell the film, raising money so that it can be completed.)

A film will not fail to be completed simply because it does not achieve general release. »Ê¹ÚÌåÓýapp condition is that it must be ready for presentation, and not that it is actually presented. Situations may arise, for example, in which general release is delayed for a period after completion or a suitable distribution deal cannot be found for the film. Neither of these circumstances should prevent the film from being regarded as completed.