LDS - If you want to shoot more than 12 continuous minutes in the EU, the tax limit for non-camcorders is 30 minutes anyway.
For Canon owners, the 12 minute limit is the result of poor software engineering. It is possible to overcome the 4GB limit by spanning across .mov files during recording (without Magic Lantern-type dropouts or gaps), with OEM firmware - but Canon only does this with the 5D Mark III, taking that camera up to 30 minutes.
Canon could have done this in all of their video-capable cameras, but they did not (partly for fear of overheating, something the 7D was susceptible to).
Panasonic does file spanning in all of the GH cameras, and even some of their point and shoots, giving them virtually unlimited shot duration (outside of the EU). Admittedly, this is easier to do with AVCHD, but Panasonic did it with the .mov files from the GH3 as well.
Panasonic also engineers their camera hardware so they can shoot for hours without overheating (outside of the EU).
This was one of the reasons I sold my T2i/550D and bought the GH2.
In the EU, the only way to shoot a take that lasts for up to 30 minutes with a large sensor camera is to get a Panasonic DSLM, a Sony DSLT, a Canon 5D Mark III or a large sensor camcorder.
To shoot a take lasting more than 30 minutes, your only options are a large sensor camcorder or a hacked Panasonic GH2.
Bill