Gov Boosts Local Film Industry With $400M
The federal government has committed $400 million to help Australia’s film and TV industry recovery from the COVID-19 pandemic.
This funding will extend the screen incentive measures that are already that are already in place to entice major productions to Australia. The government hops the incentive will support 8,000 jobs each year.
Prime Minister Scott Morrison said that this additional funding was a key investment of the government’s JobMaker plan to create jobs and boost local business activity, and provide training and skills.
“This is backing thousands of Australians who make their living working in front of the camera and behind the scenes in the creative economy,” said Morrison.
“Behind these projects are thousands of workers that build and light the stages, that feed, house and cater for the huge cast and crew and that bring the productions to life.”
The location incentive increases the tax offset rate from 16.5% to 30% for large-budget, international productions that are filmed in Australia.
‘Thor: Love and Thunder’, which has pushed its release date back to 2022 due to COVID-19, is one such production being supported by Australia’s location subsidies.