All creative decisions are framed by financial constraints – and those constraints have become far tighter as interest rates have skyrocketed in the wake of the pandemic.
Many of the million-dollar-plus salaries ($3-$5 million adjusted for inflation) aimed to attract stars of the day such as Jeff Bridges, Rob Lowe, Daryl Hannah, Geena Davis, and Liam Neeson.
The Federal Government has announced it will alter the threshold for the TV Producer Offset, meaning serials like 'Home and Away' will now be able to qualify for the 30 per cent rebate.
Production in Australia is booming. In the last four years, the Producer Offset, PDV Offset and the combined Location Offset and Incentive have resulted in a whopping $16.5 billion of economic output, and in the last financial year alone, created 20,600 jobs. However, a new report from Olsberg SPI suggests uncertainty about the future of the Location Incentive risks continued growth and infrastructure investment.
Count Out Loud managing director Carmel Creswell runs through what individuals and businesses must be mindful of come tax time when choosing to reinvest their fees in a project.
Moneypenny Offset manager Liberty Warr and her team consistently lodge 35+ PO applications per year, giving the team a strong insight into best practice for faster and more efficient turnaround of applications. Here, Warr provides clear tips for a smoother process.
The legislative changes to the federal tax incentives have passed through both houses of Parliament, with amendments that keep the minimum qualifying Australian expenditure (QAPE) threshold at $500,000 for both the Producer and PDV offset.
Two "massive moveables" - that is, COVID-19 and the delay in legislative changes to the offsets - mean Screen Australia has been scenario planning.