Digital Games Tax Offset
The AGSC has supported the latest APRA AMCOS submission to the government regarding the Income Tax Assessment (Digital Games Tax Offset) Bill 2021: Measure for Consultation.
- The growth of the digital games sector in Australia from the introduction of an offset will have a direct impact on the livelihoods of songwriters and composers
- The AGSC and APRA AMCOS welcomes the inclusion of “musicians (including composer) and sound designers” as qualifying Australian development expenditure but suggest the drafting of the legislation states qualifying expenditure is for “songwriters, composers, musicians, sound designers and performers” which would be clearer and more comprehensive of music and sound production.
- The AGSC and APRA AMCOS note that the use of copyright material is excluded in qualifying Australian development expenditure. We urge the Treasury to review the exclusion of copyright material as rebate-able expenditure and propose the inclusion of copyright material with a cap on the amount of expenditure. This ensures consistency with the Screen Producer offset arrangements and ensures that small to medium local studios benefit fully from the offset.
Streaming Service Investment Scheme
The AGSC and APRA AMCOS has responded to the proposed Streaming Services Reporting and Investment Scheme.
- The AGSC and APRA AMCOS called for the swift introduction of a 20% Australian commissioned content expenditure requirement on global streaming businesses. The proposed 5% investment threshold is not sustainable.
- The AGSC and APRA AMCOS submitted that the Scheme must include mechanisms for the mandatory inclusion of local Heads of Department and specifically local key music professions, such as “Head of Music” or “Director of Music” in any investment-related definition of Australian content.