Australia takes on Hollywood: Scott Morrison dishes out $400m to get film companies to make blockbuster movies Down Under - including Chris Hemsworth's Thor: Love and Thunder
- Film companies are keen to make films in Australia due to coronavirus success
- But government tax rebate scheme has almost run out of cash to attract them
- Scott Morrison is topping up the Location Incentive with an extra $400million
- Ten productions including Godzilla vs Kong have already benefitted from policy
Scott Morrison has set aside $400million to encourage production companies to make their films in Australia, providing up to 8,000 jobs a year.
The Prime Minister will pump more cash into a tax break called the Location Incentive and extend it by four years until 2027.
The scheme lets production companies apply for a total tax offset of 30 per cent - instead of 16.5 per cent - making it much more attractive for them to produce films in Australia.
Is Australia becoming the new Hollywood? Ten productions including Thor: Love and Thunder, filmed in Sydney, have already benefited from tax breaks. Pictured: Chris Hemsworth as Thor
The Prime Minister will pump more cash into a tax break called the Location Incentive and extend it by four years until 2027. TV series Reef Break (pictured) has benefitted from the policy
Ten productions including Godzilla vs Kong, filmed on the Gold Coast, and Chris Hemsworth's Thor: Love and Thunder, filmed in Sydney, have already benefited from the policy.
In June Ausfilm CEO Kate Marks said Australia was fielding extra inquires from filmmakers because of its success in dealing with coronavirus, especially compared with the US.
But she warned that many new projects would not come Down Under if the $140million Location Incentive, which had almost run out of money after being introduced in 2018, was not given more cash.
The additional $400million is expected to attract $3billion in foreign expenditure and create 8,000 new jobs for Aussie workers including carpenters, lighting technicians, local actors, set designers, extras, crews and special effects experts.
Preacher Season 4 was filmed in Melbourne. Pictured: Dominic Cooper as Jesse Custer in the show
Scott Morrison has set aside $400million to encourage production companies to make their films in Australia, providing up to 8,000 jobs a year
'This investment is key to our JobMaker plan to create jobs, boost local business activity, and provide training and skills,' the Prime Minister said.
'Behind these projects are thousands of workers that build and light the stages, that feed, house and cater for the huge cast and crew and that bring the productions to life.
'This is backing thousands of Australians who make their living working in front of the camera and behind the scenes in the creative economy.'
Minister for Communications, Cyber Safety and the Arts Paul Fletcher described the Location Incentive as an 'economic multiplier'.
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'It will sustain the vitality of Australian screen production and support jobs and local businesses,' he said.
'Through this additional commitment, the Government is telling the world that Australia is a desirable destination for screen production – with great locations, skilled crews, world-class talent, post-production expertise and state of the art facilities.'
The ten productions that have benefitted so far are estimated to generate spending of around $1billion, support 8,000 jobs and engage more than 9,000 Australian businesses.
