Ausfilm calls on Government to increase Location/PDV Offset
Ausfilm has released its response to the review of the Australian independent screen production sector, saying the organisation was “encouraged” by acknowlegement of the issues affecting offshore production, and calling the Government for action.
“Ausfilm is calling on the government to increase the Location and PDV Offset to 30 percent to allow Australia to once again be competitive on the world stage and for offshore investment to continue to flow into Australia’s film industry,” said chairman Alaric McAusland.
The report, released today, covers the positive impact of offshore productions on the economy and the local film industry. It refers to industry requests to increase the incentives from 15 to 30 percent, or ‘peg’ it to the value of the Australian dollar, but it doesn’t make any recommendations on the matter.
“For minimal investment, the positive impact of offshore production to the nation’s economy and local film industry is enormous. Since 2007, the Government’s investment of $67 million in Location & Post, Digital and Visual Effects (PDV) tax rebates has resulted in a total of $452 million offshore investment injection into the economy. That is a total net gain of $385 million to the nation’s economy,” said the new Ausfilm CEO, Debra Richards.
