Enhancements to film tax offsets
The following enhancements have been made to the film tax offsets, as a result of the recent review of the Australian independent screen production sector:
- The producer offset expenditure threshold has been lowered to $500,000.
- Direct funding is available for low budget documentaries that fall under the $500,000 expenditure threshold.
- The rate of the location offset has increased from 15% to 16.5%.
- The post, digital and visual effects (PDV) offset has increased from 15% to 30%.
- Some additional screen production costs can be claimed as qualifying Australian production expenditure (QAPE) under the film tax offsets.
- Television series will benefit from the producer offset for the first 65 broadcast hours (replacing the previous 65 episode limit).
- Goods and services tax (GST) amounts are excluded in determining QAPE for the film tax offsets.