Australia Extends Production Incentives to Help Local Industry
The Australian federal government has extended two key film and funding initiatives. These are expected to help the country’s screen production sector remain active and continue to recover from the disruptions caused by COVID-19.
“The highly effective A$50 million ($38 million) Temporary Interruption Fund will be extended for a further six months, to provide coverage for productions that commence principal photography prior to 31 December 2021,” said Paul Fletcher, federal Minister for Communications, Urban Infrastructure, Cities and the Arts, on Sunday.
In a second move, Fletcher said: “The Morrison Government will also retain at 40% the Producer Offset rate for feature films with a theatrical release. In addition, as announced last year, the Government will raise the Producer Offset rate from 20% to 30% for other eligible formats such as drama and documentary content for television and streaming platforms.”
By: Patrick Frater