Australia, already one of many world’s main inbound manufacturing hubs, has elevated its Location Offset for worldwide movie and TV productions taking pictures within the nation to 30% from the present 16.5%, efficient from July 1, 2023.
The information was introduced as a part of Australia’s 2023-24 nationwide finances by federal treasurer Jim Chalmers.
In 2020 throughout the early days of the pandemic, Australia topped up its current schemes with a $270M (A$400M) Location Incentive programme, which can now be merged into the Location Offset, additionally efficient July 1.
A current research by UK-based consultancy Olsberg SPI, commissioned by the Motion Picture Association (MPA) and the Australia New Zealand Screen Association (ANZSA), discovered that Australia’s movie and tv incentives contributed a complete of $11.4BN (A$16.5BN) to the nation’s financial output for the 4 years to the 20201/22 monetary 12 months.
The report additionally discovered that in 20201/22, whole manufacturing expenditure in Australia grew to greater than $1.5BN (A$2.2BN), a rise of 91% over the 4 years studied.
Major productions to shoot in Australia over the previous 4 years embrace Disney’s Thor: Love And Thunder, Universal’s Ticket To Paradise, Woody Woodpecker and Metropolis, Legendary Entertainment’s Godzilla vs Kong 2 and Netflix exhibits Heartbreak High, Pieces Of Her and God’s Favorite Idiot.
The MPA, which represents the US studios, congratulated the transfer: “The increase of the Location Offset to 30% will allow Australia to remain competitive in this very active global industry, helping to ensure that Australia will be home to many more film and television productions for years to come,” stated Belinda Lui, MPA Asia Pacific President and Managing Director.
Australia additionally gives a 30% Post, Digital and Visual Effects (PDV) Offset for worldwide productions that journey to Australia for VFX and submit. The nation’s incentives programmes additionally embrace a 3rd scheme, the 40% Producer Offset, which is aimed toward native productions because it requires an Australian cultural take a look at.
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