Federal Government Adjusts TV Producer Offset, Aiding ‘Home and Away’
The Federal Government has introduced a significant amendment to the TV Producer Offset, notably impacting long-running serials like ‘Home and Away’.
This revision sets a new eligibility criterion for drama series, where a minimum expenditure of $35 million per season in qualifying Australian production expenditure (QAPE) is required. Previously, the threshold was set at $500,000 per hour in QAPE.
This policy change, effective from 1 July 2024, aims to facilitate the production of more Australian narratives on screen. According to the latest report from Screen Australia, the average production cost for series and serials in 2022/23 stood at $500,000 per hour, marking a significant increase from the $300,000 in previous years.
Arts Minister Tony Burke emphasized the significance of this change.
“We want to see more Australian stories shown on screen,”
“Backing in Australian drama is essential to that. This change will help to support more iconic Australian stories being told and shared by the people who know them best.”
In response, the Seven Network has announced an exciting internship program for ‘Home and Away’, alongside plans to expand filming locations to include regional Australia. The program will provide opportunities across the production departments as the series enters its 37th season.
James Warburton, Seven West Media managing director and CEO, praised Minister Burke for acknowledging the show’s impact.
“Home and Away is a remarkable show and has been an integral part of many Australians’ lives for almost four decades,”
“Access to the Producer Offset will enable us to increase Home and Away’s domestic and international appeal, ensure it remains competitive as an Australian drama, and reinforce the significant contribution it makes to the Australian TV industry and Australian culture.”
Angus Ross, Seven’s chief content officer for entertainment programming, highlighted how the tax amendment would bolster the show’s future.
“Our new investment in Home and Away, made possible by the government’s decision will enable it to tell even more great Australian stories and create a new pathway for people who want to be part of that sector,”
“More location filming will help ensure Home and Away maintains its globally acclaimed production values and will create new work for the Australian production sector.”
This development marks a pivotal moment for ‘Home and Away’, ensuring its continued contribution to Australian culture and the television industry.
Clearly they can act. Can’t imagine anyone enjoying spending time with that Bourke.
Clearly they can act. Can’t imagine anyone enjoying spending time with that Bourke.
Thought the producers offset purpose was to generate more productions & make the industry bigger ?
Perhaps they need the top class executive back to remind them of the Law of diminishing returns…