AUSTRALIAN SCREEN PRODUCTION INCENTIVE
ENHANCEMENTS - ANNOUNCED AUG 3RD
Further to recent budget announcements on the Australian Screen Production Incentive, originally announced in the Federal Budget of 8 May 2007, last Friday afternoon The Minister for Arts and Sport, Senator the Hon. George Brandis, released a range of enhancements.
Click here to read the Minister's media announcement: http://www.minister.dcita.gov.au/brandis/media/media_releases/2007/082.
The government anticipates the legislation enabling these enhancements will be introduced during the Spring Parliamentary sittings in August and September 2007.
Following is a summary of some of the relevant enhancements:
FOR MORE INFORMATION, ALSO SEE: http://www.dcita.gov.au/arts_culture/film
Further to recent budget announcements on the Australian Screen Production Incentive, originally announced in the Federal Budget of 8 May 2007, last Friday afternoon The Minister for Arts and Sport, Senator the Hon. George Brandis, released a range of enhancements.
Click here to read the Minister's media announcement: http://www.minister.dcita.gov.au/brandis/media/media_releases/2007/082.
The government anticipates the legislation enabling these enhancements will be introduced during the Spring Parliamentary sittings in August and September 2007.
Following is a summary of some of the relevant enhancements:
- The three components of the Incentive will now be known as the Producer Offset, the Location Offset, and the Post, Digital and Visual Effects (PDV) Offset.
- Provisional certificates not required as a procedural step to access Producer Offset
- Following industry concerns that levels were too high, the qualifying Australian production expenditure (QAPE) minimum threshold for documentaries with a minimum running time of at least a commercial half-hour will be reduced to A$250,000 QAPE per hour
- TV series comprising between 2 and 65 episodes eligible with QAPE of at least A$500,000 per hour and A$1 million total.
- Expenditure outside Australia will qualify if the location and overseas activity relates to the subject matter of the production
- Transitional arrangements for projects already in production when the Producer Offset came into effect (1 July 2007)
- Under official international co-productions, eligible expenditure in the other country will count towards minimum QAPE thresholds, but not towards value of Offset payment.
- Project must be assessed by FFC (after 1 July 2008: the new Australian Screen Authority) as a "qualifying Australian film". The criteria for this will be based on those currently used for determining 10BA eligibility, except sources of financing and ownership of copyright will no longer be a specific factor used in assessment.
- Freight will be treated in a manner consistent to travel: all expenditure on the freighting of goods TO Australia will be QAPE.
- Contrary to suggestions to government, broadcasters will be able to access the Producer Offset if they are the project's producer. Govt will monitor to ensure this is not used simply to reduce the broadcasters contributions to production costs
FOR MORE INFORMATION, ALSO SEE: http://www.dcita.gov.au/arts_culture/film