Help Film & TV Survive after COVID-19 with 150% Tax Deduction & Instant Asset Write-Off.

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The Coronavirus has been devastating to the film and television industry with a complete shutdown of projects. Simultaneously the hospitality industry, which provides many of the backup jobs for the industry, has effectively closed.

On top of this, the Jobkeeper subsidy has been structured in such a way as to render most of us in film and television ineligible.

So we want to do something about it. 

Our proposal acknowledges and appreciates the stress that the coronavirus has placed on the Government's balance sheet and focuses on the long term future of the industry. This is not a short term band-aid, nor a handout, it is a balance sheet neutral opportunity for the Government to proactively help the industry to do more than just survive. It will allow it to thrive.

The Proposal:

  1. Increase the tax concession on investment in copyright from 100% to 150% similar to that used in the 10BA in 1981 (but without the revenue concession).
  2. Allow Instant Asset Write-Off (IAWO) of the Investment (currently spread over 5 Years.  
  3. Increase the Producer Offset Tax rebate for feature films to 60%
  4. Removal of the distribution advance and P&A requirements of the Producer Offset application.
  5. Allow a consultancy fee based arrangement with distributors.

The Benefits 

  1. Activate the currently dormant private sector.
  2. Create approximately 20,000 project jobs.
  3. Reduce red tape and barriers to entry in Producer Offset applications
  4. Reduce the risk for distributors