[Press Release by Gray Management Group]

Adelaide film production company Kojo Pictures, is one of the first Australian film producers to receive the Federal Government’s new 40 percent tax rebate offset for a feature film.

KOJO’s latest feature film, Beautiful, Directed by Dean O’Flaherty and due for theatrical release in March 2009, has just received one of the first rebate cheques issued for an Australian feature film. Beautiful was completed in June this year and was recently issued with its final rebate certificate by Screen Australia. The movie was funded with the assistance of the Federal Governments new 40 percent tax offset incentive, as well as a number of private investors, including the KOJO Group.

KOJO founding partner and Producer of Beautiful, Kent Smith, said, “This film could not have been made or released in cinemas without the new rebate incentive and the assistance of the South Australian Film Corporation (SAFC). The SAFC was a major investor in the film, providing the initial financial support needed to trigger the additional funding required to make a movie of this size.”

Smith also gave credit to the board of the SAFC saying, “They were prepared to go out on a limb and back us by providing initial funding for Beautiful. By having the courage to support local companies the SAFC board helped ensure this film was made and that film production in Australia will continue to grow strongly in the new year”.

Despite the current economic climate, film and television drama production increased overall in 2007-8 by 7 percent on the previous year and looks set for more strong growth, particularly in South Australia, in 2009.

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