Screen Australia revises cap
The Screen Australia Board has decided to reduce the cap on its investment per feature film project from USD5 million to USD3 million (or $3.5 million in exceptional circumstances). The Board was of the view that USD5 million for a single project would account for too high a percentage of available funds, given Screen Australia's reduced appropriation in 2009/10.
The Board also noted that only projects with relatively high budgets could have accessed the full USD5 million anyway, given that total government support (Screen Australia investment and Offset) is also capped as a proportion of the project's budget.
Such higher-budget films should have significant market support and solid marquee attachments, and should therefore be less reliant on a large top up from Screen Australia.
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