PDV Offset raised to 30%
The Federal Government announced that the Post, Digital and Visual Effects (PDV) Offsets will raise from 15 to 30 percent; the Location Offset was increased from 15 to 16.5 percent.
“With a 30 percent PDV Offset, Australia’s post-production companies will be able to attract multi-million dollar contracts on big-budget international projects, which in turn helps to build Australia’s filmmaking infrastructure and expertise,” said Ausfilm CEO Debra Richards.
According to Richards, this increase will allow for the continued growth and development of Australia’s post production industry.
Ausfilm chairman Alaric McAusland thanked the Federal Government, “and particularly Minister for the Arts, Simon Crean for his support of the Australian film industry as seen by this announcement.”
But not everything is celebrations. Richards said that Ausfilm is “disappointed” that the Location Offset was not increased at the same rate as the PDV: “The Location Offset is no longer competitive due to the high Australian dollar and competition from higher incentives offered by other national governments and US state governments”.
The industry body will continue to advocate for an increase from 16.5 to 30 percent.
