Film tax offsets - changes to eligibility requirements

On 11 May 2010, the Assistant Treasurer, in a joint media release with the Minister for Environment Protection, Heritage and the Arts, announced (as part of the 2010-11 Budget measures) changes to the eligible requirements for film tax offsets to provide a boost for the Australian film industry.

The announcement proposes:

• to remove the current requirement for productions valued between $15 million and $50 million to spend a minimum of 70% of their production budgets in Australia, and
• to reduce the post, digital and visual effects production (PDV) threshold from $5 million to $500,000.

Both changes will apply from 1 July 2010.

Press release

For more information, see:

• Joint Media Release No.089 of 11 May 2010
• Budget paper No 2, Budget measures 2010-11