Media release from NZFC
The New Zealand Film Commission and Film New Zealand welcome changes to the structure and level of support for New Zealand screen incentives bringing more financial assistance for mid-budget level New Zealand productions and encouraging more international productions to do business here.
Prime Minister John Key, Minister for Economic Development Steven Joyce and Minister for Arts, Culture and Heritage Christopher Finlayson announced the changes at the New Zealand Film Commission in Wellington this morning.
The changes come as the Screen Production Incentive Fund and Large Budget Screen Production Grant are combined to form the New Zealand Screen Production Grant, an uncapped fund. There will be a process of engagement with the New Zealand industry early in 2014 to finalise the points test that will apply to New Zealand productions.
The New Zealand Film Commission and Film New Zealand are working closely together to help the sector capitalise on these changes for the benefit of the New Zealand screen sector and the economy.
“These changes will enable larger scale New Zealand productions to be made as well as encouraging more New Zealand stories to be seen on screen,” says NZFC Chair Patsy Reddy. “The growth in New Zealand’s screen sector will lead to the development of more screen businesses, successful careers and employment.”
“This sends a strong message internationally that New Zealand is competitive and that the screen sector is backed by the New Zealand Government,” says Film New Zealand Chair Julian Grimmond. “When combined with New Zealand’s reputation for talent, and some significant cost advantages, it makes a convincing argument for international production to come to New Zealand.”
The rebate on international film and television productions now rises from 15 per cent to 20 per cent.
A further 5 per cent will be available for international productions that deliver significant economic benefits to New Zealand. Eligibility will be assessed through a points system to be released in due course.
New Zealand productions will continue to be able to access 40 per cent, but that will now be extended to television and productions with larger budgets. The two tiered system will take the form of a rebate on productions up to $15m qualifying New Zealand production expenditure (QNZPE) and equity on productions between $15m and $50m QNZPE.