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Budget assistance to the Australian film industry



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NEWS RELEASE

MINISTER FOR HOME AFFAIRS AND ENVIRONMENT

BUDGET ASSISTANCE TO THE AUSTRALIAN FILM INDUSTRY

The Government's commitment to the encouragement of a stable and economically viable Australian film industry has been underlined by the 1984-85 Budget allocation of

$19.7 million to the Australian Film Commission, the

Minister for Home Affairs and Environment, Mr Barry Cohen, said today.

The allocation includes $5 million to the special merit fund for films of high quality with commercial potential.

"Last year this fund assisted 22 of the 39 feature films and mini-series financed by 30 June - many of which would not have met their budget requirements without that assistance", Mr Cohen said.

"The total funding available to the Commission will underwrite a high level of activity across the spectrum of AFC programs.

"This will be complemented by the current generous taxation concessions applying to investment in films. These will remain in force until at least June 1985.

"These taxation incentives resulted in an estimated

$108 million being invested in 1983-84 for films to be

produced over the following two years", Mr Cohen said.

The Government has also acted to assist film producers

by removing inequities in the sales tax treatment of films by exempting from tax answer prints and certain other specific aids to manufacture of films.

"Apart from national identity and cultural considerations,

'significant employment opportunities will continue to be generated in film making as a result of Government policies"