The South Australian Film Corporation (SAFC) has welcomed the South Australian State Government’s investment in the screen sector, as announced in the recent 2021-22 State Budget.
The budget announcement will see the Post Production, Digital and Visual Effects (PDV) Rebate Scheme receive a boost of an additional AUD$22.8m over five years to meet an increase in demand for the Scheme and and to ensure its continuation from 2022-23.
Accorrding to the SAFC, “This additional funding dedicated to the PDV sector ensures the continuation of the very successful SA PDV Rebate, which has been an important driver of growth not just for the screen sector but the South Australian economy overall.
“Since its launch in 2018 the SA PDV Rebate has cemented South Australia’s place as an internationally recognised centre of excellence for PDV and ensured the state’s position as a globally competitive destination for attracting high end visual effects work on blockbuster films.
“In its first year the rebate hiked PDV spending in South Australia from $44m to $66m, and in the three years since it has supercharged the state’s post-production sector to become a thriving hub of major award-winning and internationally regarded studios, such as Mr X, which was nominated for a 2021 Academy Award for Best Visual Effects for its work on Love and Monsters, and Rising Sun Pictures which has worked on multiple Academy Award nominated films including 2020 Best Picture nominee Ford v Ferrari.”
Also receiving a boost is the SAFC’s Screen Production Fund with a top-up of $6.6m over four years funded by ceasing the payroll tax exemption and associated ex-gratia relief for film production.
According to the SAFC, “This crucial top-up to the Screen Production Fund will enable the SAFC to take a more strategic and proactive approach to production incentive support and ensure that the SAFC can maintain its current levels of support for screen production activity.
“This change will ensure the SAFC’s Screen Production Fund delivers maximum return on investment for South Australian state government funding, with a focus on industry development outcomes for South Australian businesses and “Greenlighter” talent, and commercialisation of South Australian owned Intellectual Property.”
The SAFC is inviting productions impacted by the cessation of Payroll Tax Exemption to discuss their requirements with its Production and Development team via email at email@example.com or by calling +61 8 8394 2029.