LBSPG tagged posts
December 20, 2013 New Zealand Taxation
James Cameron’s Avatar movies are coming to New Zealand, after the government signed off on an incentive package featuring tax breaks, documentaries and red-carpet events.
Earlier this week, in a joint announcement, the Prime Minister John Key and the international film director James Cameron confirmed that the next three Avatar movies will be filmed in New Zealand, and the production would qualify for a tax rebate of 25 percent.
The rebate is granted is part of the Large Budget Screen Production Grant and the Post, Digital and Visual Effects Grant, aimed at drawing high-level productions into the country and boosting the national film industry.
The rebate rate was originally set at 15 percent, but has been increased to 20 percent, with the extra 5 percent coming from a discretionary re...Read More
January 27, 2010 New Zealand Finance
The box-office hit Avatar has attracted in excess of NZD307 million to the New Zealand economy during the time of its filming in the country.
According to a press release issued by Gerry Brownlee, Economic Development Minister of New Zealand, on January 24th, the award winning film delivered millions of dollars in expenditure to the economy. He claimed that this boon would not have been possible without the government’s Large Budget Screen Production Grant (LBSPG) scheme, from which Avatar has already received NZD44.69 million in tax rebates.
The LBSPG was instituted in the Taxation (GST, Trans-Tasman Imputation and Miscellaneous Provisions) Act 2003 and originally provided a 12.5 percent tax rebate on aspects of productions that exceeded a preset expenditure level...Read More