|Benefit as a % of spend||16.50|
|Financial cap per production||-|
|Do I have to register/set up a company?||Yes|
|Does foreign cast/crew paid in their home country/region qualify as expenditure?|| No|
|Do foreign cast/crew have to pay tax in the host country/state/region?|| Yes|
|Does travel to/from country/region qualify as expenditure?|| No|
|Can a production qualify for other national incentives such as cultural programmes if it qualifies for this incentive?|| No|
|Criteria to access the benefit|
- - Minimum percentage of the film that must be shot in the region: 70.00%
- - Minimum spend 15000000 (in local currency)
- - Use Local cast & Crew
|When will the benefit/incentive be received?|
- - On submission of audited accounts
- - State approx. number of months after completion of audited accounts
|Additional incentives or advantages|
- - VAT / GST /Sales Tax recoverable
- - Rece tour assistance, location finding service
- - Where qualifying expenditure is between $15 million and $50 million, 70 per cent of total expenditure must be spent on production activity in Australia, but films that spend over $50 million in QAPE automatically qualify for the offset.
An entity, which includes a person, is able to claim input tax credits for the GST included in its expenditure provided that:
The acquisition is for a creditable purpose under Division 11 of the GST Act;
The entity is registered, or required to be registered for GST;
The entity holds a tax invoice.
Any monies due to the production company will occur as part of the process of the production company’s lodgement of its tax return for the financial year in question. Australia’s tax year ends on 30th June.
There are no national insurance contributions or social security charges in Australia. There are compulsory contributions for superannuation (pension fund) purposes; however, temporary residents are generally able to claim this back on departure. Foreign residents for tax purposes may also be subject to withholding tax. However, Australia has dual-tax treaties with a wide variety of countries.