increase the the location offset tax break to 30%
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Dear Senator Hon. Mitch Fifield,
Please consider increasing the location tax offset for foreign film investors from the current 16.5% to the world standard of 30%.
Australia has a fantastic reputation globally in its ability to service the requirements of foreign film production. Unfortunately we have lost a critical incentive that entices foreign investment.
Our current location tax offset is well below current world standards and as a result we have experienced a sharp and painful decline in production companies enjoying our world class crews and facilities.
The trickle down economics of foreign companies willing to spend hundreds of millions of dollars and employing thousands of crew directly and hundreds of local businesses both directly and indirectly are easy to fathom and demonstrate.
I implore you, as a twenty year plus veteran of this failing industry and for the sake of all of my peers and talented friends that have dedicated their lives to the arts in this country consider that a low tax offset draws no investment at all and none of the spoils associated. A competitive offset will bring the considerable investment we have enjoyed in previous times back to our shores.
Good for my industry, good for wages, good for peripheral business and good for our nation.
Thank you for your time.
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