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.
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.
A Senate committee has recommended the government temporarily raise the copyright cap on documentaries and work to strengthen Australia's PDV sector as part of its offset reform.
With the draft amendments to the legislation that governs the Producer Offset now published, there is one issue that to date hasn’t garnered much attention. That is, the re-introduction of the 20 per cap on above-the-line fees for non-feature length documentary production.