Funding Info and Conditions

Funding is provided as an investment and is repayable to Screen Tasmania on commencement of principal photography, with a flat 10 per cent interest premium. Note if the film enters into production substantially outside Tasmania then payment of a 50 per cent premium of the Screen Tasmania investment is required.

Screen Tasmania will take a small share in the copyright of the work until the investment is repaid, at which point Screen Tasmania will reassign its interest.

Screen Tasmania is entitled to a share percentage of producer’s net profits that is calculated as follows on the total amount of our investment in any one project:

  • if total development investment is up to $30 000, Screen Tasmania is entitled to 0.5 per cent of Producer’s Net Profits
  • if total development investment is between $30 001 and $50 000, Screen Tasmania is entitled to 1 per cent of Producer’s Net Profits
  • if total development investment is between $50 001 and $100 000, Screen Tasmania is entitled to 1.5 per cent of Producer’s Net Profits
  • if total development investment is over $100 001, Screen Tasmania is entitled to 2 per cent of Producer’s Net Profits.

Approved projects are subject to Screen Tasmania terms and conditions of investment, and execution by all parties of Screen Tasmania’s development agreement.

Reporting and delivery requirements will be stated in the development agreement for the project.

Screen Tasmania will require an appropriate credit as outlined in the development agreement.

The board will normally only consider projects for one stage of development at a time, and support is not guaranteed for each successive stage of development.

Due to funding limits, no applicant can be guaranteed to receive funding.

Each application will be considered on its own merits. Screen Tasmania will not consider treatment of past applications to be precedent for present applications.

These general guidelines apply to all funding schemes, however specific exceptions and variations may apply for some schemes. They are published to assist applicants to address the relevant issues. They do not bind Screen Tasmania or the Tasmanian Government, nor do they create any rights in respect of any prospective applications.

Screen Tasmania reserves the right to vary any of the terms or conditions without notice, therefore applicants should always confirm the currency of guidelines before lodging applications.

Screen Tasmania reserves the right to waive certain conditions in individual cases where the application is considered to fit the spirit of these guidelines. The final interpretation of these guidelines and the decision to approve applications rests with the Minister for Economic Development and Resources.

All funding schemes will be in accordance with Treasury guidelines, the government Financial Management and Audit Act 1990 and the Tasmanian Development Act 1983.

Confidentiality

Publicity of assistance

Unlike private sector financial organisations, the Department of Economic Development (the department) disburses public funds and is therefore accountable for the distribution of those funds. As part of the accountability process, the department may publicise the level of its financial assistance including the terms and conditions of the financial assistance as provided in the confidentiality requirements set out in the legal documentation entered into with you.

Freedom of Information (FOI)

You should also be aware that information you provide to the department, and details of any financial assistance package, may be subject to requests for public disclosure under the Freedom of Information Act (Tas) 1991 (the Act) provided that information is not subject to the confidentiality requirements set out in the legal documentation entered into with you.

Personal Information Protection (PIP)

Personal information will be collected from you for the purpose of undertaking the department’s activities. Your personal information will be used for the primary purpose for which it is collected and may be used for other purposes permitted by the Tasmanian Development Act 1983 and may be disclosed to contractors and agents of the department or affiliated bodies, and other organisations authorised to collect it.

Application of GST to grants and withholding tax

Screen Tasmania advises all applicants to consult the Australian Taxation Office and/or their accountant regarding changes to the Australian Taxation System.

If GST applies to a grant, it will be the applicant’s responsibility to account to the Australian Taxation Office for an amount equal to 1/11th of the grant funds received that are ultimately taxable.

No GST payment shall be made by the Department of Economic Development unless the department receives a tax invoice from the applicant.

Under a new tax system the Department of Economic Development is required to deduct 48.5 per cent withholding tax from the grant and remit this to the Australian Taxation Office where an applicant fails to advise one of the following:

  • an ABN
  • purpose of grant is hobby or private
  • the entity is exempt from income tax