Treasury Fri 14.12.2012, released for comment draft legislation proposing to insert a definition of “documentary” into the tax law for the purposes of the film tax offsets, and mainly the Producer Offset. The changes will define the term “documentary”, in accordance with the Australian Communications and Media Authority guidelines, as a creative treatment of actuality that is not an infotainment or lifestyle program or a magazine program. The proposed new term, and associated changes, will apply in relation to films commencing principal photography on or after 1 July 2012.
The amendments also propose to add “game show” to the list of light entertainment programs explicitly excluded from eligibility for the film tax offsets, clarifying the original intent of the offsets. These game show amendments would apply to a film if its principal photography commences on or after the day the amendments receive Royal Assent.
COMMENTS are due by 30 January 2013.
[LTN 243, 14/12]