The Australian screen industry recently received exciting news as the country’s Location Offset scheme was raised to 30%. This increase, which was announced in May, has now officially come into effect as of July 1. The boost in the rebate for TV and film productions shooting in Australia, from the previous 16.5% to 30%, is a cause for celebration among industry professionals. This change is expected to attract more overseas investment and create new opportunities for growth within the sector.
Kate Marks, the CEO of production body Ausfilm, expressed her enthusiasm for the enhanced Location Offset scheme, describing it as fantastic news for the industry. The increased rebate will provide certainty for international productions, support a stable pipeline of work for Australian screen workers and businesses, and stimulate investment in new industry capacity and capabilities. Australian TV and film organizations have been advocating for this rebate improvement for several years, recognizing its importance as Australia continues to attract international shoots.
The Australian government’s Revive National Cultural Policy acknowledges the significance of international production to the local screen industry. With the new 30% Location Offset, Australia has enhanced its competitiveness as a filming location, making it more attractive to large-budget productions. This change has already yielded positive results, with foreign spend on drama production and post-production reaching record-breaking levels in recent years, driven by a mix of local and international titles.
The Minister for the Arts, Tony Burke, highlighted the benefits of the increased Location Offset for the entire Australian screen sector. By encouraging more productions to choose Australia as their filming location, local screen workers have the opportunity to showcase their talents and enhance their skills. To qualify for the rebate, productions must meet specific expenditure thresholds, engage with Australian post-production, digital, and visual effects companies, and contribute to the broader workforce and infrastructure capacity of the sector.
The Location Incentive program, which was launched during the pandemic, has now been merged into the new Location Offset scheme. Additionally, Australia offers a 30% Post, Digital, and Visual Effects (PDV) Offset for international productions that come to the country for VFX and post-production work. Alongside these incentives, the 40% Producer Offset is available for local productions that meet Australian cultural test requirements. This comprehensive approach aims to support both international and domestic projects within the Australian screen industry.
Leave a Reply