01 Aug 11 Film tax offset changes
In media release No 2011/116, issued 29 July 2011, the Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, announced the release of exposure draft legislation, and associated explanatory memorandum, which amends the tax law to make a number of changes to the film tax offsets.
These amendments were announced in the 2011-12 Budget.
Enhancements to the film tax offsets will be available to most productions starting on or after 1 July 2011, once the legislation is passed. Submissions close by 15 August 2011, to allow the introduction of the measures in the Spring 2011 sittings of Parliament.