Australia Increases Location Offset For Inbound Production To 30% From July 1
deadline.comAustralia, already one of the world’s leading inbound production hubs, has increased its Location Offset for international film and TV productions shooting in the country to 30% from the current 16.5%, effective from July 1, 2023.
The news was announced as part of Australia’s 2023-24 national budget by federal treasurer Jim Chalmers. In 2020 during the early days of the pandemic, Australia topped up its existing schemes with a $270M (A$400M) Location Incentive programme, which will now be merged into the Location Offset, also effective July 1.
A recent study by UK-based consultancy Olsberg SPI, commissioned by the Motion Picture Association (MPA) and the Australia New Zealand Screen Association (ANZSA), found that Australia’s film and television incentives contributed a total of $11.4BN (A$16.5BN) to the country’s economic output for the four years to the 20201/22 financial year.
The report also found that in 20201/22, total production expenditure in Australia grew to more than $1.5BN (A$2.2BN), an increase of 91% over the four years studied.
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