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$140m Incentive For Hollywood to make Movies in Australia

$140m Incentive For Hollywood to make Movies in Australia

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Would you (a Hollywood Studio) choose Australia to shoot your next big blockbuster for extra monetary incentives?

Federal Government has made up financial stimulant for foreign studios and movie makers; at the moment a 16.5% rebate is available for the money they spend but next year those that qualify can net an additional $35m a year.

Details are within next week's federal budget on how it will work; but, unlike the current scheme, the funds will be capped. Those that apply will compete for the funds but a government source has said that specific criteria and the application process is still being worked on.

Foreign Minister Julie Bishop who has shown her attention towards the film industry says that "We have a highly skilled workforce that can compete with the best in the world, but in order for us to remain competitive, we needed this additional incentive, and I'm delighted that this will mean more jobs"

Alien: Covenant

In 2015 the location rebate was increased for Ridley Scott to shoot his movie Alien: Covenant within Australia as well as other studio projects.  

Though at the time it was a welcome gesture there has been lobbying towards a more thorough approach as the Queensland industry is dependent on offshore productions.


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