new incentives
september 2007
Legislation enacting the new $300 million Australian Screen Production Incentive was introduced into Parliament in mid-August.
The package, announced in the Australian Government's 2007-08 Budget, provides generous incentives for domestic and offshore production to strengthen Australia's film industry, and includes:
- a Producer Offset to encourage Australian film and television productions;
- a Location Offset to attract large budget productions from offshore; and
- an offset on Post-production Digital and Visual Effects (PDV) production work done in Australia as part of large budget productions, no matter where the project is shot.
"Industry responses to the package are very positive and there is a feeling of optimism that the Government's new domestic and offshore incentives represent a powerful injection for the local film industry," Senator Brandis said.
Since the package was announced, the Government has worked hard to provide the industry with certainty in the form of legislation.
"We have engaged in extensive consultation on the incentives to ensure the package is appropriate and effective," Senator Brandis said.
"With the release of the legislation, I encourage the industry to develop exciting proposals taking advantage of the incentives."
The legislation is expected to be considered by Parliament in September following review by the Senate Economics Committee.