After the local filming of Sony Pictures' romantic comedy "Anyone but You" and the action-packed "The Fall Guy," lawmakers introduced a new legislation that nearly doubled the existing 16.5 percent location tax credit to a whopping 30 percent. Australia has significantly enhanced its tax incentives to attract foreign, primarily Hollywood, film and TV productions to shoot locally.
The federal government's legislation has bolstered the location offset from 16.5 percent to 30 percent, providing a significant boost to the local film industry. However, this lucrative increase comes with a condition. Producers must have a minimum production budget of AUS$20 million (US$13.3 million) or spend AUS$1.5 million (US$1 million) per hour for a TV series. This stipulation ensures that primarily foreign, and in particular, Hollywood blockbusters, will reap the benefits of the enhanced location offset, as Australia strives to become more competitive with other international jurisdictions and lure more productions and jobs to its shores.
"This is indeed excellent news for our industry," exclaimed Kate Marks, CEO of Ausfilm, in a statement on Thursday. "The 30 percent location offset will provide a solid foundation for international productions, supporting a robust workflow for numerous Australian screen workers and businesses, and igniting investments into new industry capabilities and resources."
With this attractive offset, Australia aims to keep pace with leading international production hubs like the U.S., U.K., Canada, and others in attracting Hollywood movies and TV series to shoot locally. Recent Australian-shot successes include Sony Pictures' charming romance "Anyone but You" starring Glen Powell and Sydney Sweeney, the epic "Godzilla x Kong: The New Empire" from Warner Bros. and Legendary Entertainment, the action-packed comedy "The Fall Guy" featuring Ryan Gosling and Emily Blunt from Universal Pictures, and Disney's thrilling "Kingdom of the Planet of the Apes." Additionally, notable films such as George Miller's "Furiosa: A Max Max Saga" starring Chris Hemsworth and Anya Taylor-Joy, "Thor: Love and Thunder," and the Peacock miniseries adaptation of Liane Moriarty's "Apples Never Fall" have also been filmed in Australia, further highlighting the country's appeal as a filmmaking destination.
