Art & Entertainment | Book Reviews | Education | Entertainment Video | Health | Lifestyle | Sport | Sport Video | Search

 

SPADA Welcomes Screen Production Incentive Fund

             

 

 

MEDIA RELEASE

Thursday 22 May 2008          

 

SPADA Welcomes Screen Production Incentive Fun

The Screen Production and Development Association of New Zealand (SPADA) welcome the Government’s announcement today that it is introducing a Screen Production Incentive Fund (SPIF).

“We are very pleased that the New Zealand Government has recognized the need to invest in industry development,” says SPADA CEO Penelope Borland. “This is a watershed in empowering the industry and will stimulate growth.  The Production Incentive will help to retain talent and stabilize and strengthen New Zealand’s screen production infrastructure.

“New Zealand has been facing a drain of talent to Australia.  With the Australian producer offset in place since last year, this has given its producers an edge in the international financing market, and some production companies have been considering moving to Australia take advantage of its scheme.  This will help to retain screen production companies in New Zealand and enable them to build businesses here.  It is heartening to see the New Zealand Government adopting incentives which have been introduced internationally,” says Borland. 

SPADA believes the introduction of the Production Incentive Fund will create new investment opportunities, which in turn will to lead to industry growth and development.   The Production Incentive targets medium to higher budget productions with significant New Zealand content, budget levels which sometimes fall between the funding available from government agencies and other Government incentives such as the Large Budget Screen Production Grant.

The production incentive rebate is calculated on actual qualifying New Zealand expenditure: 40% of total qualifying New Zealand production spend over a $5million threshold for films and 20% of total qualifying expenditure for television over a variety of thresholds.  It will only be available when a production is completed, producers having to cash flow it during the production.  Therefore, economic benefits will affect not only production companies, but also the numerous industry-related businesses that comprise the sector’s infrastructure and the significant New Zealand content criteria will contribute to New Zealand’s cultural development.

 ends

© Scoop Media

 
 
 
 
 
Culture Headlines | Health Headlines | Education Headlines

 
Review: A Rose By Any Other Name Would Smell As Sweet

The Royal New Zealand Ballet has accepted the challenge of this heart-touching tragedy and largely succeeded. More>>

ALSO:

NZ's First Male IAAF Gold: Tom Walsh's Historic Shot Put Victory

Although feeling very sore but with a great feeling Tom Walsh took his place as number one on the victory dais to receive his much deserved gold medal. More>>

ALSO:

Scoop Review Of Books: Q&A: Hard To Find Books

"Unfortunately we are in crisis and this friendly dinosaur faces extinction… Our only hope is to try and raise funds to buy the building and restore it to its glory, either fully funded or with a viable deposit." More>>

Kid Lit: Lost Mansfield Story Discovered At Wellington Library

Previously undiscovered letters and a story written by a young Katherine Mansfield were recently unearthed in Wellington City Library’s archives by a local author researching a book about the famous writer. More>>

 
 
 
 
 
 

LATEST HEADLINES

  • CULTURE
  • HEALTH
  • EDUCATION
 
 
  • Wellington
  • Christchurch
  • Auckland