In a boost for Australia’s film and television industry, the Federal Government will extend two measures that will support the continued production of quality, local screen content as the sector recovers from the COVID-19 pandemic.
The AUD$50 million Temporary Interruption Fund (TIF) will be extended for a further six months, to provide coverage for productions that commence principal photography prior to 31 December 2021.
The Australian Government will also retain at 40 per cent the Producer Offset rate for feature films with a theatrical release. In addition, as announced last year, the Government will raise the Producer Offset rate from 20 to 30 per cent for other eligible formats such as drama and documentary content for television and streaming platforms.
Minister for Communications, Urban Infrastructure, Cities and the Arts, The Hon Paul Fletcher MP, said these support measures would enable the local screen industry to continue to create quality Australian productions and keep thousands of jobs and businesses in the local production sector.
“Despite our successes in managing COVID-19 in Australia, the continuing severity of the pandemic internationally is a problem for screen production, with insurers still not providing coverage for COVID-19 related events,” Minister Fletcher said. “TIF has been vital in providing the certainty that productions need to secure financing, and it will have assisted with more than 12,000 production roles and 5000 business contracts in its first year of operation.”
The 40 per cent Producer Offset supports around 50 Australian feature films per year with total average rebates of around $124 million. This injects over $300 million per year into the Australian economy, and underpins the tremendous success Australian feature films have had at the box office in recent times.
Minister Fletcher said, “Australian feature films play an important role in our cultural identity and resonate strongly with audiences at home and abroad. After consulting with Australian feature film producers and considering the feature film environment abroad, we have determined that retaining the offset at 40 per cent is appropriate to ensure the ongoing vitality of the sector.”
TIF and the Producer Offset are administered by Screen Australia. Eligibility criteria, guidelines and how to apply are available at: https://www.screenaustralia.gov.au/funding-and-support