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SPADA Welcomes Government’s Changes to Screen Incentives

16 December 2013

SPADA Welcomes Government’s Changes to Screen Incentives

SPADA welcomes the Government’s changes to the structure and level of support for overseas and New Zealand film and television productions, given they strike a good balance between attracting international inward production and providing opportunity to grow the domestic industry.

The rebate on international film and television productions now rises from 15 per cent to 20 per cent and is uncapped. A further 5 per cent will be available for international productions that deliver significant economic benefits to New Zealand. Eligibility will be assessed through a points system to be released in due course.

New Zealand productions will continue to be able to access 40 per cent, but that will now be extended to television and productions with larger budgets. The two tiered system will take the form of a rebate on productions up to $15m qualifying New Zealand production expenditure (QNZPE) and equity on productions between $15m and $50m QNZPE.

“This is a significant and aspirational opportunity for NZ producers, screen companies can now have higher budget ambitions and are incentivised to create and develop NZ owned film and television IP that they can exploit internationally”, says SPADA Co-President Richard Fletcher.

The changes come as the existing Screen Production Incentive Fund and Large Budget Screen Production Grant are combined to form the New Zealand Screen Production Grant, an uncapped fund.

The Screen Production and Development Association of New Zealand (SPADA) is a non-profit membership organisation that represents the interests of producers and production companies on all issues that affect the business and creative aspects of independent screen production in New Zealand. www.spada.co.nz

ENDS

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