Exposure Draft - Film Tax Offset

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Abstract:

On 9 July 2010, the Assistant Treasurer and the Minister for Environment Protection, Heritage and the Arts released exposure draft legislation for the measure to change two eligibility criteria for accessing film tax offsets.

The draft legislation:

• reduces the minimum qualifying expenditure threshold for the post, digital and visual effects (PDV) offset from $5 million to $500,000; and
• removes the requirement for films with qualifying expenditure of between $15 million and $50 million to have at least 70 per cent of the film’s total production expenditure as qualifying Australian expenditure in order to qualify for the location offset.

These changes were first announced on 11 May 2010.

Making a submission

Interested parties are invited to comment on the exposure draft material. While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment. Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

Closing date for submissions: Tuesday, 27 July 2010

Address written submissions to:
The General Manager
Business Tax Division
The Treasury
Langton Crescent
PARKES ACT 2600

Fax: (02) 6263 4466

Email: filmtaxoffsets@treasury.gov.au

For enquiries please call Richard Maher on (02) 6263 3361.

Documents Available:

 Acrobat (PDF)

 Microsoft Word (RTF)

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