In a long-awaited move, Australia has increased its financial incentives for attracting international productions from 16.5% to 30%.
The bill to pass the new enhanced location offsets took so long to pass Congress that it had a deadline to cover projects that began principal photography before July 1, 2023. It was traced back.
Production requires a budget of at least A$20 million (US$13.3 million) for a feature and at least A$1.5 million (US$1 million) per hour for a television series.
Production companies must also meet a minimum training expenditure test, establish or upgrade permanent Australian film infrastructure, or invest in a qualifying training program. We use one or more Australian providers to provide post, digital and visual effects for production. As part of the application process, we will provide specific data such as employment of Australian crew and use of Australian companies.
Projects scheduled to shoot in Australia include Amazon MGM Studios/AGBO’s The Bluff, Amazon MGM Studios/Skydance’s Balls Up, and Sony’s untitled shark thriller in Victoria. Included.
International spending on drama production and post-production reached a record A$1.22 billion (US$780 million) in 2023, according to Screen Australia’s Drama Report. This was led by titles such as Universal’s “The Fall Guy,” Warner Bros., and “Godzilla x Kong.” : The New Empire will also produce post, digital and visual effects (PDV) for titles not shot in Australia, such as Disney’s Hocus Pocus 2 and Indiana Jones and Dial. I’m working on it.
This story originally appeared on our sister site KFTV.
