Australia: Additional minimum expenditure threshold for “producer offset” tax rebate
The government announced an additional minimum expenditure threshold for its “producer offset” tax rebate.
Additional minimum expenditure threshold for “producer offset” tax rebate
The government announced an additional minimum expenditure threshold for its “producer offset” tax rebate of an eligible production’s qualifying Australian production expenditure (40% for feature films and 30% rebate for television and productions on other platforms).
Currently producers of a drama series must spend at least $500,000* per hour in qualifying Australian production expenditure in order to be eligible for the producer offset. Under the new threshold, drama series that spend at least $35 million per season in qualifying Australian production expenditure also will be eligible for the offset, which will benefit any drama series that films significant numbers of hours over a season but does not meet the per hour threshold.
The new per season threshold will apply to drama series that commence filming on or after 1 July 2024.
*$=Australian dollar
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