Australia to Double Location Shooting Incentives

Australia is to nearly double its federal incentives for foreign films that shoot in the country. The news was announced on Friday by minister for foreign affairs, Julie Bishop, as executives get ready to set off for the Cannes Film Festival.

The move is expected to be announced formally next week as part of the government’s annual budget statement, and is expected to be valued at $106 million (A$140 million) over the four years from the 2019-20 financial year.

The change will have the effect of increasing production rebates from 16.5% of a film’s Australian location spending to 30%.

In recent months, producers, facilities managers and post-production companies have said that that Australia has become uncompetitive compared with other locations. That is despite the plummeting value of the Australian currency since the end of the commodities boom three years ago. The government has also launched three separate reviews into the viability of the Australian film industry.

Read full article published by Variety, 4 May 2018.