Hollywood planning big productions Downunder
It’s early days but Ausfilm boss Kate Marks says “18 Hollywood-backed features and TV series [are] looking to shoot here”. There’s “over $900 million worth of real enquiries out there at the moment”. With post COVID restrictions likely to ease much faster than in other parts of the world, Australia is looking like an extremely attractive place for film production.
These big productions do expect support from the Federal government in the form of tax incentives. In 2018, the government set up a system where the maximum tax rebate offered to foreign productions was limited to $140M over 4 years. Almost all of that money has been allocated and the industry is waiting on an announcement from the Federal government about further funding. “The location fund has been really successful, but once it runs out the projects run out,”. For more information see this article in The Age.
