$140m govt incentive to attract Film & TV
Producers welcome a move designed to lure more Film & TV projects to Australia.
- Published by David Knox
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- Filed under News
Producers have welcomed an announcement by the government today designed to lure more Film & TV projects to Australia.
The $140 million Location Incentive will be delivered over four years from 2019-20 and will create more than 3000 jobs, bringing in over $260 million in new foreign investment. It will effectively provide an increase to the Location Offset rate from 16.5 per cent to 30 per cent for eligible large budget international productions that film in Australia from July.
Screen Producers Australia CEO Matthew Deaner said, “I welcome today’s announcement. SPA has long argued that greater certainty and support should be afforded to international production in Australia. These international productions offer great opportunities for enhancing the industry’s reputation and capability. At least 10 per cent of our workforce is employed on these productions and rely on a robust, solid and successful local industry that has been built up over decades.
“I now look forward to working with the Government to further its reforms to grow local industry capacity, capability and trade opportunities so we can employ more Australians and make great Australian stories for Australian and international audiences.”
“This represents a positive policy change ensuring that Australia continues to attract high quality, large budget feature films which will grow our talent and creative industries. It will also promote Australia as a dynamic, innovative economy and tourist destination,” Foreign Minister Julie Bishop said.
“This funding is all about supporting local jobs. It will ensure our film industry remains vibrant and competitive, and gives us the opportunity to showcase our talent both on screen and behind the scenes to the rest of the world,” Communications & Arts Minister Mitch Fifield said.
“This new funding means more international films will be made here in Australia, and particularly in Queensland, which means more local jobs,” Minister Ciobo said.
“The major studios have told us they want to make movies here. This funding makes Australia more competitive and will help secure more major productions that will create and support local jobs.”
6 Responses
I sense there will be a fair bit of public cynicism with this political decision, the movie industry in particular is full of double standards, wanting to grab mega profits and use public money to help subsidise its efforts all the while preaching about the threat pirating has for it’s future, the public are the lifeblood of the movie and TV industry and they definitely pay for what they receive. The moral values of the movie and TV industry have been questioned lately so producers travelling the world looking for tax offset is not a good look but that is just the reality of multi-national businesses nowadays.
So let me get this straight- the government is happy to provide increased subsidises to other countries film industries but won’t do the same for homegrown ones? No wonder cinemas are largely void of Australian characters and tv screens full of reality.
Where is it going to be?
Nationwide.
Which means Sydney, Brisbane and Melbourne. None of it will go anywhere near Hobart, or Albury, Dubbo or Townsville where there are a shortage of jobs. It is interesting that people hate multinational corporations that avoid tax, until it comes to subsidising the profits of Disney/FOX, Universal, Paramount etc. I guess since we are no longer giving billions to Ford, GM and Mitsubishi we have money to waste.
Films will go beyond East Coast, much tougher for TV.