ausfilm

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.