Magazine article Screen International

New Zealand Lowers Spend Threshold for Film Fund

Magazine article Screen International

New Zealand Lowers Spend Threshold for Film Fund

Article excerpt

The threshold has been lowered from $3.13m to $1.96m for New Zealand films wanting to make a claim under the Screen Production Expenditure Fund.

The New Zealand Government has lowered the expenditure threshold that needs to be reached before New Zealand films can make a claim under the Screen Production Expenditure Fund (SPIF). The fund has US$15.64m (NZ$20m) remaining in the pot for the next two years.

The government says the continuing global and local recession has prompted the action, which will mean that films that spend US$1.96m (NZ$2.5m) on qualifying costs in New Zealand can now get back 40% of those costs if all the rules are met. Previously the threshold was US$3.13m (NZ$4m).

Some of these funds will go to television, but those claims can only be for 20% of qualifying expenditure.

It will mean more New Zealand films will go into production, said the Minister for Arts, Culture and Heritage, Chris Finlayson, when he made the adjustment public yesterday. …

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