Australia Earmarks $21M for Incentives

By George, Sandy | Screen International, March 15, 2013 | Go to article overview

Australia Earmarks $21M for Incentives


George, Sandy, Screen International


The Australian government this week put aside $21m (A$20m) to attract high-budget international film production, but exactly how it is going to be used will not be known until the industry has been consulted, which may be a few weeks.

What is known is that, in practical terms and however it is accessed, the new incentive will put money into the empty pockets of Australian crews and service companies, and will do the US studios a favour by offsetting the high costs of filming in Australia.

It is also known that it will be in addition to the 16.5% uncapped location tax rebate payable on the Australian production expenditure component of any film that spends $15.5m (A$15m) or more in the country, and the 30% rebate on post, digital and visual effects where expenditure is more than $520,000 (A$500,000).

Australian films get a 40% tax rebate on expenditure, including official co-productions and unofficial co-productions that meet the multidimensional Australian content test.

It is also known that if Australia does entice Walt Disney Studios to make David Fincher's 20,000 Leagues Under The Sea on its shores with a combination of the rebate, the $12.4m (A$12m) currently on offer from the federal government and an additional unknown amount from one or more state governments, this will not be included in the new $21m (A$20m). …

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