Changes to the Producer Offset following legislation passed by parliament
Press release from Screen Australia
The Australian Government’s 2011/12 Budget included a number of proposed reforms to the Producer Offset.
On Monday 21 November 2011, legislation enacting the reforms was passed by the Australian Parliament.
The Bill, the Tax Laws Amendment (2011 Measures No. 7) Bill 2011, will be presented to the Governor-General for Royal Assent in the coming weeks. Following that, the amendments will be in force, taking effect for:
Projects with Screen Australia production funding (investment or grant), where funding approval was given (ie a Letter of Approval was issued) on or after 1 July 2011.
All other cases (ie projects without Screen Australia production funding), where pre-production commenced on or after 1 July 2011.
The Bill also includes amendments to the Location and PDV Offsets in line with the Budget Announcement.
The Bill and its Explanatory Memorandum are both available here. Schedule 9 is the relevant part of the Bill.
CASHFLOW PROVIDERS ON THE WEBSITE
As part of ongoing improvements to the Producer Offset website, we have prepared a page providing information on organisations which we are aware have provided cashflow facilities or brokered finance to Producer Offset applicants. Please note that Screen Australia does not itself cashflow the Producer Offset, and it is not able to offer producers advice or recommendations as to third-party cashflow facilities.
View the list of Offset loans and cashflow providers here.
Screen Australia’s offices will be closed from Saturday 24 December 2011 to Monday 2 January 2012 inclusive. In addition, due to Christmas leave, the Producer Offset and Co-production Unit will be operating at reduced staffing levels in the weeks around the shutdown period. This may cause delays in assessments and we ask all applicants for patience.
We wish you all a festive and joyous holiday period.