Film Funding Blog

Australian films are getting a boost of financial support. Already rising in prominence in the United States, Australian filmmakers are poised to take advantage of a new film funding plan that provides the Australian film industry with an additional $283 million dollars to pursue its cinematic ventures.

In addition, the government there will soon introduce a 40% tax rebate to encourage the production of Australian feature films, and a similar tax rebate of 20% for television productions. In addition, the location rebate for foreigners interested in filming in Australia will increase to 15%, thus boosting incentive for producers to fund large-budget overseas projects.

Essentially, the Australian film industry is getting a facelift. In addition to the previously mentioned financial support, the government package also includes the installation of the Australian Screen Authority to replace the previous film funding review groups: Australian Film Commission, Film Finance Corporation and Film Australia.

Through this arts package, the government hopes that this step forward will aid in not only improving the Australian film industry but also contribute to economic and cultural growth.

Get more information from MSN News:
http://news.ninemsn.com.au/article.aspx?id=265777&rss=yes

Contributed by Christina Chen,
UC Berkeley student