GREATER SUPPORT FOR THE AUSTRALIAN SCREEN INDUSTRY

Australian film and television actors, creators, workers and businesses will benefit from new legislation passed by Parliament today that will boost investment in our screen industry and stories.

Amendments to the Income Tax Assessment Act 1997 give effect to changes to two streams of the Australian Screen Production Incentive – the Location Offset and Producer Offset.

The Location Offset aims to encourage large-scale screen productions to film in Australia by providing eligible productions with a tax rebate.

By increasing the rebate from 16.5 to 30 per cent, the amendments are set to attract more large-budget productions to Australian shores – with all the economic, employment and skill development opportunities they provide for local screen workers.

The amendments also introduce new eligibility requirements for productions to meet minimum training obligations or contribute to the broader workforce and infrastructure capacity of the sector, and use one or more Australian providers to deliver post-production, digital and visual effects for the production.

Changes to the Producer Offset will mean more Australian drama series can benefit from the scheme, which gives a tax rebate to producers for expenditure on eligible Australian films, television and other projects.

Alongside the current per hour threshold, the amendments introduce a new minimum expenditure threshold for drama series of $35 million per season in qualifying Australian production expenditure – that is, expenditure incurred for goods and services used or provided in Australia.

The new per season threshold means a drama series that films significant numbers of hours over a season but does not meet the per hour threshold can now benefit from the offset.

Minister for the Arts, Tony Burke, said the changes are a win for the Australian screen sector.

“The more productions that choose Australia as their filming location, the more our Australian screen workers have the opportunity showcase their talents and hone their craft here at home – that’s why we’re increasing the Location Offset to encourage more large-budget productions to our shores.

“We’re also backing iconic Australian drama, with changes to the Producer Offset to support more Australian stories being told and shared by the people who know them best.”

The increased Location Offset rebate will apply retrospectively to eligible productions that commenced filming on or after 1 July 2023.

The new Producer Offset minimum expenditure threshold will apply to drama series that commence filming on or after 1 July 2024.

ENDS