Treasury Laws Amendment (2021 Measures No. 5) Act 2021 (127 of 2021)

Schedule 1   Australian Screen Production Incentive Reforms

Income Tax Assessment Act 1997

1   Paragraph 376-2(3)(a)

Repeal the paragraph, substitute:

(a) the amount of the producer offset is:

(i) if the film is a feature film that was produced for commercial exhibition to the public in cinemas - 40% of the company's qualifying Australian production expenditure on the film; and

(ii) otherwise - 30% of the company's qualifying Australian production expenditure on the film; and