Film and television productions will be lured to Australia with a $400 million incentive in a federal plan to capitalise on the country’s lower rate of coronavirus infections.
While border controls will limit the immediate take-up of the new scheme, the government is pitching the incentive as a way to bring work to a safe location in Australia when productions have stalled in Hollywood and elsewhere.
The new offer, called the Location Incentive, adds to an existing Location Offset that gives film and television producers a tax break for big-budget productions. The 10 projects were estimated to support 8500 local jobs – a figure that suggests the subsidy was worth roughly $14,500 per job. The Productivity Commission has regularly questioned taxpayer support for selected industries but it has rated film industry offsets as "above industry average" in terms of the value of the assistance.The new incentive follows calls on the government from the arts and entertainment industry for more help and the release of a $250 million JobMaker package of assistance for the arts industry on June 25.
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