The government announced at the Federal Budget that from July 1, the Location Offset will be permanently raised from 16.5 to 30 per cent.
The Location Incentive program has helped to bring 40 international productions to Australia in the last five years, and generated $3.28 billion for the economy. The benefit of this support was particularly noticeable during the pandemic, with many foreign films being filmed in Sydney, including blockbuster Marvel projects such as ‘Thor: Love and Thunder‘ and ‘Shang-Chi: The Legend of the Ten Rings‘.
As part of the additional funding package, productions will be subject to increased reporting requirements including capturing data on employment of Australian crew and use of Australian businesses.
The offset can be used for films with QAPE (Qualifying Australian Production Expenditure) in excess of $20 million or series with a QAPE of at least $1.5 million per hour.
This is great news for our industry!
📷: Chris Hemsworth in ‘Thor: Love and Thunder’, which was filmed in Sydney and supported by the Government’s Location Incentive Program