Producer, Location and PDV Offsets legislation introduced

22 September, 2011 by IF

Press release from Screen Australia

Legislation to implement the Australian Government’s 2011/12 Budget announcement regarding the Producer, Location and PDV Offsets was introduced into the House of Representatives yesterday.

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The provisions are to legislate the Budget changes to the Producer Offset, including lowering the Qualifying Australian Production Expenditure (QAPE) threshold for feature films to $500,000 and numerous other changes to make QAPE easier to calculate for applicants.

The amendments will apply to projects which:
• receive Screen Australia investment confirmation on or after 1 July 2011 and
• do not have Screen Australia investment and that commence pre-production on or after 1 July 2011.

The Bill will be debated by Parliament at a later date.

The provisions are contained within Schedule 9 to the Tax Laws Amendment (2011 Measures No.7) Bill 2011. The text of the Bill and the Explanatory Memorandum can be viewed here: http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fbillhome%2Fr4676%22.

View Screen Australia’s summary of the changes at: www.screenaustralia.gov.au/producer_offset/changes2011.aspx

 

 

 

 

 

 

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