April 2015 4 World For action Studio 100 Media GmbH Sapporobogen 6-8 80637 Munich – Germany T: +49 (0)89 96 08 55-0 info@studio100media.com www.studio100media.com PREVIEW AT MIPTV 2015 R7.C1 © 2015 Greenpatch Productions Pty Ltd. 150319_S100M_miptv15_BB_VideoAge_185x230MM_RZ.indd 1 19.03.15 16:53 The shortage of qualified workers has also led to an increase in crewstaff that doesn’t meet producers’ standards. The issue has also caused cost increases, even though labor in Atlanta is still about 25 percent lower than in Hollywood. Now public and state institutions are scrambling to train film-industry workers. Georgia State University is building a new media production center in Atlanta and Savannah College of Art and Design has expanded its film production courses. Irish Films, TV Get New Incentives The old Section 481 of the Irish Film board, to provide tax relief toward the cost of film and television productions, has been changed. Now there is a 32 percent relief on qualifying expenditures for Ireland-based production companies on up to 80 percent of a project’s budget. Section 481 was introduced in 1991 to encourage investment in Irish-made productions, and was broadened in 1993 to include individual investors who could invest up to€50,000 each year. According to the Irish government’s Department of Arts, Heritage and the Gaeltacht (an Irish word referring to an Irish-speaking region), 51 projects were approved in the first 10 months of 2014, with Irish investors putting up€166.9 million. This is compared with 68 projects approved by the Revenue Commissioners (tax collectors) in 2013, with some €178 million invested. Inorder for investors tobenefit, they had to be in the 41 percent tax bracket, since the scheme granted the full taxable income on a €50,000 investment, generating a net gain of €4,153. Here’s how Section 481 worked before the change. Income tax refund: €20,500 (a €50,000 investment at 41 percent), which meant that the actual investment was€29,500. A €33,653 share of proceeds from sales was assumed, thus the net gain was €4,153 (or €33,653 minus €29,500). For singles this meant income in excess of €45,000 per year was needed to qualify; €54,300 for a couple with one income, and €78,100 for a couple with two incomes. To achieve the maximum tax relief on €50,000, investors needed income of €91,800 for a married person, or €82,800 for a single person. Starting this year, Australian public broadcasters are expected to have their budgets cut by A$308 million (U.S.$240 million) over the next five years. The ABC budget will be decreased by A$254 million (or 4.6 percent), while the SBS budget will shed A$53 million (or 1.7 percent). To achieve the savings, ABC is expected to eliminate about 400 jobs. Plus, regional offices will be closed, along with the Adelaide TV production studio. Crew Shortage In Y’allywood The success of film production in Atlanta, Georgia, has caused such a shortage of local crew workers that it could stall any further growth. Generous state and local tax credits that have been available since 2008 have made “Y’allywood” one of the top American locations for movie and television production. In the film business, Atlanta is known as “Y’allywood” for the penchant of Southerners to say “y’all” (short for “you all”). Aussie TV Faces Cuts (Continued on Page 6) Australians protesting the budget cuts
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