Call for response to film tax offset review
24 May 2006, Media release
The Minister for the Arts and Sport, Senator Rod Kemp, has announced a statutory review of the Australian Government’s refundable film tax offset scheme, which he says aims to ensure Australia remains a key destination for big-budget film and television productions.
“Today I have instructed the Department of Communications, Information Technology and the Arts to commence the review of the film tax offset,” Senator Kemp said.
“This review aims to examine the effectiveness of this scheme in attracting large-budget production to Australia, and the effect of the offset on the Australian production industry.”
The offset review is a separate process from a broader review of Australian Government support for the funding of Australian films that was announced by the Government on 9 May 2006. However, the findings of the offset review will inform the broader review.
Since its introduction in 2002, 17 film and television programs have been certified for the offset resulting in combined expenditure of over $885 million in Australia.
The film tax offset review is being carried out in accordance with section 376-110 of the Income Tax Assessment Act 1997.
The deadline for submissions to the review is 7 July 2006.
For more information on the Refundable Film Tax Offset Scheme and to access the Refundable Film Tax Offset Scheme: 2006 Review of Division 376 of the Income Tax Assessment Act 1997 discussion paper online, visit: www.dcita.gov.au/filmtaxoffset.
See the full media release
The Minister for the Arts and Sport, Senator Rod Kemp, has announced a statutory review of the Australian Government’s refundable film tax offset scheme, which he says aims to ensure Australia remains a key destination for big-budget film and television productions.
“Today I have instructed the Department of Communications, Information Technology and the Arts to commence the review of the film tax offset,” Senator Kemp said.
“This review aims to examine the effectiveness of this scheme in attracting large-budget production to Australia, and the effect of the offset on the Australian production industry.”
The offset review is a separate process from a broader review of Australian Government support for the funding of Australian films that was announced by the Government on 9 May 2006. However, the findings of the offset review will inform the broader review.
Since its introduction in 2002, 17 film and television programs have been certified for the offset resulting in combined expenditure of over $885 million in Australia.
The film tax offset review is being carried out in accordance with section 376-110 of the Income Tax Assessment Act 1997.
The deadline for submissions to the review is 7 July 2006.
For more information on the Refundable Film Tax Offset Scheme and to access the Refundable Film Tax Offset Scheme: 2006 Review of Division 376 of the Income Tax Assessment Act 1997 discussion paper online, visit: www.dcita.gov.au/filmtaxoffset.
See the full media release