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Australia, already one of the world’s biggest hubs for international film and TV production, has increased and streamlined the ‘Location Offset’ scheme that is at the heart of its ability to attract runaway productions. The Location Offset will be increased from its current 16.5% rebate of Australian qualifying production spend, to 30%. At the same time a discretionary 13.5% grant scheme will be merged into the offset system. Both changes are effective from July 1.
The moves were announced on Wednesday as part of the 2023-24 national budget by federal treasurer Jim Chalmers. His decision involves the injection of an additional A$112 million ($76.2 million) into the system over the next four years.(Separately, A$286 million [$195 million] over five years will go to Creative Australia and on to four new arts bodies: a First Nations led body, Music Australia, Writers Australia and Creative Workplaces. A further A$535 million [$364 million] will go to nine museums and art galleries for the preservation of their materials.)
Having lobbied for the changes, location attraction service Ausfilm gave a warm welcome to Chalmers’ decisions and said they would “deliver a significant boost to the Australian screen industry and broader Australian economy by providing certainty and stability for international film and TV productions.”
