Australian Federal Government announces increase to Location Offset to grow Australia as a production & post-production powerhouse.
Rising Sun Pictures (RSP) welcomes the announcement today that the Turnbull Government will provide a $140 million boost over four years to effectively increase the current Location Offset from 16.5% to 30%. RSP’s Managing Director Tony Clark states, “This is a game changer for the entire industry and significantly shifts the landscape in favour of filming in Australia. It will allow our country to reliably build capability due to a consistent pipeline of work and create significant employment opportunities”.
Clark adds “Not only will it bring benefits to the local economy, but it will also allow us to build ongoing relationships with international filmmakers, something which has been lacking in recent years as other destinations offered stronger incentives”.
RSP has recently contributed visual effects work to Tomb Raider, Peter Rabbit, Thor: Ragnarok and a host of other major motion pictures.
The South Australian State Government announced in December a state based Post, Digital, Visual Effects (PDV) incentive of 10%, which is yielding results. Clark states “We’re already seeing the local incentive bringing new and expanded projects to South Australia and setting the stage for future growth.”
Productions that receive the location grant will now effectively have access to a combined 40% rebate on visual effects when working with RSP and other South Australian businesses.
RSP’s talented team boasts an impressive collective resume; Tony Clark as part of the Cospective team was the recipient of an Academy Scientific and Technical Award for the creation of remote collaboration tool cineSync; VFX Supervisor, Tim Crosbie, was nominated for Academy® and BAFTA® Awards for RSP’s work on X-Men: Days of Future Past; and Creative Director Tom Wood, was nominated for Academy® and BAFTA® Awards for Best Visual Effects on Mad Max: Fury Road.
Media Contact: Crystel Newman
Rising Sun Pictures
+61 8400 6577
Production Contact: Jennie Zeiher
Head of Business Development
Rising Sun Pictures
+61 8 8400 6507