Magazine article Screen International

New Location Fund Spurs Australian Studio Expansion (Exclusive)

Magazine article Screen International

New Location Fund Spurs Australian Studio Expansion (Exclusive)

Article excerpt

The $140m incentive is intended to draw in at least $260m in foreign investment to the local economy.

‘Hacksaw Ridge’ was filmed at the studios.

Fox Studios Australia is working on plans to expand its Sydney facility following the creation of a $140m Location Incentive Fund, confirmed Wayne Borg, managing director of the studios in Cannes on Saturday.

The extra money, which will be delivered over four years from 2019-23, is intended to draw in at least $260 million in foreign investment to the local economy. In practice, this will mean the present location incentive, a tax offset of 16.5%, will almost double to 30%. The incentive will be available for high end TV drama as well as for feature films. It has been put in place after intensive lobbying from the local industry. …

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