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AIDC 2008 day 2: The Producer Offset; The Practicalities
Speakers: Antonia Barnard (FFC), Sue Maslin (Independent producer)
Following on from the national briefings outlining the new Producer Offset, Antonia Barnard from the Film Finance Corporation (FFC) gave an update to a packed room of delegates.
The Producer Offset is principally a recoupment of good and services provided in Australia, replacing the old 10BA tax rulings.
The first responsibility of the producer is to apply to the FFC to secure a provisional certificate. The FFC will then work with the producer to finetune their application form and budget ensuring producers are supported through this transitional period.
It was noted that recouping offshore expenses for documentaries was a difficult element of the Offset and production companies are encouraged to be thorough with their accounting records. Antonia clarified that the Producer Offset will be eligible on costs during principal photography for fees to Australian crew travelling overseas, per diems paid before departure and travel within or to overseas countries. FFC is also considering expenditure for two days either side of principal photography.
The QAPE (Qualifying Australian Production Expenditure) must tally to at least $250,000 for a one hour production to be eligible for the Producer Offset. While a provisional certificate is mandatory, the final certificate issued after completion must reflect the QAPE detailed in the provisional certificate to access the Producer Offset. If producers are re-versioning, they can only claim one version against the Producer Offset.
Further discussions centred around details relating to special purpose vehicles, tax office recommendations, deliveries, insurances and national companies with international links, for example music and archive.
Producer Sue Maslin gave a valuable insight on company structures and developing slates of projects. She believes the application process to secure the provisional certificate was not difficult, in particular for domestic door projects.
Sue talked about the opportunity to secure equity. She discussed different ways of financing films to maintain more ownership in your projects. The Producer Offset empowers producers and companies. By developing a portfolio of projects and keeping the equity within your company, a producer can move onto the next project rather than existing from project to project.
The Producer Offset is challenging producers to think about different company models to finance their films and to consider cross platform applications in a far more focused way, so that the producer can secure maximum rights for their work.
Michelle McDonald is the point of contact for the Producer Offset for Documentaries at the FFC and can assist filmmakers with their queries.
For further information on the Producer Offset, visit the FFC website.
For further information, see the Australian International Documentary (AIDC) website.
