Treasury Laws Amendment (2021 Measures No. 5) Bill 2021
Amends: the Income Tax Assessment Act 1997 to: increase the producer offset for films that are not feature films released in cinemas to 30 per cent of total qualifying Australian production expenditure; increase the minimum qualifying Australian production expenditure threshold for claiming the producer offset and the post, digital and visual effects offset to $1 million; remove the 65 commercial hour cap on claiming qualifying Australian production expenditure for a drama series and seasons of a drama series; and create limitations on what a company can count as a films qualifying Australian production expenditure; 15 Acts to make amendments consequential on new debt restructuring and liquidation processes for eligible incorporated small businesses; and 16 Acts in the Treasury portfolio to make miscellaneous and technical amendments.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r6742
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