SPA welcomes transformative Digital Games Tax Offset – Screen Producers Australia (SPA) welcomes the passing of the Digital Games Tax Offset (DGTO) through parliament this week, which allows for overdue tax incentives for Australia’s digital gaming industry.
The DGTO offers a 30 per cent refundable tax offset to eligible game developers that spend a minimum of $500,000 on qualifying Australian development expenditures. This extends the incentives to games that have supported film and television production through the Producer’s, Post, Digital and Visual Effects and Location offsets.
“We congratulate Minister Burke and the Albanese Government for successfully passing this important legislation that will undoubtedly foster new growth and development for an important part of the Australian screen ecosystem,” said SPA CEO Matthew Deaner.
SPA has long campaigned for this form of support for games production and acknowledges the work that previous Governments and Ministers have undertaken prior to this week’s announcement.
“Production companies within the SPA membership will be celebrating the new offset today, and rightly so, as this legislation will provide invaluable opportunities for expansion of current production slates, delivering our industry a competitive edge on a global scale,” said Mr Deaner.
As part of the Government’s National Cultural Policy, Revive: a place for every story, a story for every place, the digital games industry is also being supported through $12 million to Screen Australia – to increase investment and support for digital games developers and small and medium independent games studios.
Media Release – Screen Producers Australia
Link to Screen Producers Australia HERE
TV Central Screen Producers Australia HERE
RelatedPosts
