Queensland to extend tax rebate support to digital game developers

0
18

Aimee Chanthadavong

By

Aimee Chanthadavong

| October 28, 2021

| Topic: Innovation

The Queensland government has announced it wants to widen its 15% tax rebate under the post-production, digital, visual effects (PDV) incentive to include digital games, alongside film makers who do post-production and post-visual effects in the state.

Premier Annastacia Palaszczuk said the move would incentivise more games projects and game developers to bring their business to the state.

“By adding this new games’ incentive, local and international studios will be further motivated to outsource the creation of valuable game titles to Queensland, while our own locally based developers will be supported to create original games content right here,” she said.

In addition, the state government said it would move to lower the threshold to access the PDV and games incentive from AU$500,000 to AU$250,000.

“Across the state, we have a growing base of talented specialists and studio facilities in the post-production, visual effects, animation and games space, and supporting this continued growth, particularly during this recently prolific time for the screen industry, is exactly what this incentive was devised to do,” Screen Queensland CEO Kylie Munnich said.

The PDV and games incentive is expected to be offered from next year following industry consultation.

Queensland’s decision to expand its PDV incentive follows in the footsteps of the New South Wales government, which announced last month that video games developed in the state would be eligible for its PDV tax rebate, but only at a 10% rate. 

Both state incentives are in addition to the federal government’s introduction of a digital games 30% tax rebate back in May.

Available from 1 July 2022, the federal tax incentive is available for local and international businesses that develop digital games in Australia and spend a minimum of AU$500,000 on qualifying Australian games expenditure.

In addition to the digital games tax offset, the Australian Government will allow taxpayers to self-assess the effective life of depreciating intangible assets, including patents, registered designs, copyrights, and in-house software.

MORE FROM THE SUNSHINE STATE

Queensland wraps up connected vehicle road safety pilot

The Queensland government said during the nine-month pilot drivers were alerted about on-road hazards, including red lights, pedestrians, and cyclists.

Queensland eyes COVID-19 recovery to be partly driven by innovation investments

In handing down the 2021-22 Budget, the Queensland government has announced that part of the recovery from COVID-19 will be off the back of investments that ‘foster innovation’.

Moreton Bay Regional Council goes for satellite-connected smart water sensors

IoT smart sensors remove need for manual checking of water levels.

Queensland approves new small rocket launch site at Abbot Point

Gilmour Space Technologies will build a small rocket launch pad to send low-Earth Orbit satellites into space.

Australia

|
CXO

|
Digital Transformation

|
Tech Industry

|
Smart Cities

|
Cloud

LEAVE A REPLY

Please enter your comment!
Please enter your name here