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Refundable Film Tax Offset - extension to episodic television

What changes are being made to the refundable film tax offset?

• The Government will extend the benefits of the refundable film tax offset to eligible television series production.

How does this change the current law?

• The refundable film tax offset operates as a rebate of 12.5 per cent for film production with a major criterion for eligibility being that at least $15 million be spent on Australian production costs.
• This change will allow producers of television series to access the offset where their production costs meet the eligibility criteria.

Why is the Government making this change?

• The Government is introducing this measure to encourage the producers of large scale foreign television series to locate their production in Australia.

Who benefits from this change?

• The film and television industry in Australia will benefit from increased activity. The expanded tax offset should create more Australian jobs in this industry.
• Producers of television series will also benefit from the offset as they will be able to access the 12.5 per cent rebate.

How can I find out more about this measure?

• See the expense measure entitled Refundable Film Tax Offset - extension to episodic television in the Treasury portfolio in Budget Paper No. 2.
• See also the joint press release entitled New incentives for television production in Australia from the Minister for Communications, Information Technology, and the Arts, Minister for Revenue and Assistant Treasurer and Minister for the Arts and Sport.

Document ID: 12621 | Last modified: 6 February 2008, 9:47am