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Levels of financing of 10BA projects and effects on government revenue, 1980/81–2006/07

When first introduced in June 1981, 10BA allowed investors to claim a 150 per cent tax concession and to pay tax on only half of any income earned from the investment. Government concern about the cost of 10BA over the years meant that concessions were progressively reduced to 100 per cent. Division 10BA was closed to new applicants in July 2007 with the introduction of the new Producer Offset. The concessional status for investment in productions holding a valid 10BA certificate remained available until 30 June 2009.

This table shows funds raised under Division 10BA each year from 1980/81, an estimate of the total budgets of film and television productions financed through the use of 10BA arrangements, and Australian Taxation Office estimates of the cost of 10BA and 10B to government (i.e., revenue forgone). A breakdown of column 3 (total budgets) according to type of production is contained in the next table (10BA statistics by type of project).

  10BA concession nominally available
(% deduction,
% exemption)1
Total budgets for
10BA projects
(estimated $m)
Total funds raised
under 10BA2
(estimated $m)
Cost to government
as revenue forgone3
(estimated $m)
Total   1,794.0   n.a.
1980/81 150, 50 60.3 n.a. 24
1981/82 150, 50 37.0 n.a. 13
1982/83 150, 50 108.9 n.a. 28
1983/84 133, 33 145.6 n.a. 49
1984/85 133, 33 185.8 n.a. 93
1985/86 120, 20 159.0 n.a. 124
1986/87 120, 20 179.7 n.a. 119
1987/88 120, 20 83.5 n.a. 131
1988/89 100, – 24.5 19.6 79
1989/90 100, – 72.8 31.4 42
1990/91 100, – 53.5 34.5 32
1991/92 100, – 59.3 21.2 30
1992/93 100, – 40.2 27.4 18
1993/94 100, – 35.9 15.4 22
1994/95 100, – 34.7 14.2 24
1995/96 100, – 41.8 23.7 20
1996/97 100, – 62.0 19.3 22
1997/98 100, – 54.3 22.4 20
1998/99 100, – 25.7 14.0 20
1999/00 100, – 34.8 15.4 20
2000/01 100, – 28.8 8.9 17
2001/02 100, – 46.1 20.1 16
2002/03 100, – 37.1 13.2 16
2003/04 100, – 40.5 16.3 16
2004/05 100, – 60.4 25.6 16
2005/06 100, – 37.8 8.5 n.a.
2006/07 100, – 44.0 9.1 n.a.

Source: Department of Communications, Information Technology and the Arts, Commonwealth Treasury, Department of Water, Heritage, Environment and the Arts.

Notes:
n.a. not available
1. ‘% deduction’ refers to the percentage of an investment that could be claimed as a tax deduction; ‘% exemption’ refers to the percentage of income from the investment that was exempt from tax.
2. Total funds raised under 10BA’ represents the portion of 10BA film budgets eligible for a deduction.
3. The ‘cost to government’ figures refer to the taxation revenue forgone as a result of 10BA and 10B concessions.

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