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Over 100 Producer Offset certificates issued

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PR Wire
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The highly anticipated producer offset scheme has proved to be a positive incentive to producers with more than 100 certificates being issued to features, documentaries and television, since its inception in November 2007.

"It is encouraging to see the uptake for the Producer Offset gaining momentum. Like all new Government incentives it takes time for the new system to settle in but I am pleased to report that the production industry is embracing it in a most positive manner”, Brian Rosen, FFC CEO

The Film Finance Corporation Australia (FFC) has issued 111 Provisional Certificates to date – 44 certificates to feature films, 44 to documentaries and eight to animation and 15 adult TV programs.  The first Final Certificate was approved by the Board at its 18 June meeting.

The Producer Offset, administered by the FFC, is one part of three tax incentives forming part of the Australian Screen Production Incentive. The Offset is a tax based incentive and is principally relative to goods and services provided in Australia. It is available to feature films at 40% of qualifying expenditure and for all other formats at 20% of qualifying expenditure as set out in the legislation and guidelines.

As a reminder to potential Final Certificate applicants who wish to claim the Producer Offset on their 2007/8 tax return you only need to have completed the film and expenditure incurring QAPE by 30th June 2008. You can then apply at any time for Final Certification to add to your tax return.

Details on the producer offset can be found on the Screen Australia website www.screenaustralia.gov.au