The New Zealand Government has revamped its International Screen Production Rebate, reducing the minimum feature spend from $NZ15 million to $NZ4 million to enhance global competitiveness. This adjustment, influenced by industry input and increased international rivalry, aims to position New Zealand as a strong contender for global productions.

The International Screen Production Rebate provides a 20% cash incentive for productions, with an additional 5% ‘uplift’ for projects meeting specific criteria. The recent changes align the feature threshold with TV and other non-theatrical projects, aiming to attract more mid-budget productions and allowing PDV-only projects to qualify.

To further entice international productions, the cap on above-the-line costs like director and cast fees has been removed. These modifications, driven by industry feedback, seek to enhance New Zealand’s appeal amidst a decline in international production, fostering competitiveness against countries like Australia, the UK, Ireland, and Canada.

Economic Growth Minister Nicola Willis emphasized the need for these updates to modernize the rebate, attract diverse productions, create consistent work opportunities, and stimulate foreign investment in New Zealand’s creative industries. The changes are designed to diversify the screen economy, forge stronger partnerships in emerging markets, and retain local talent while attracting new investments and technology.

The New Zealand Film Commission welcomed the announcements, with CEO Annie Murray highlighting the rebate’s simplicity and value for international productions. The adjustments position New Zealand favorably against other incentivized territories, showcasing its adaptability in a dynamic global screen production landscape.

Screen NZ International (SNZI), a newly established industry body, commended the government’s efforts to engage with the industry and enhance New Zealand’s appeal to international productions. SNZI’s industry survey revealed a substantial decrease in production activity, emphasizing the necessity for these changes to bolster New Zealand’s global competitiveness.

Since 2020, 42 international live-action productions have benefited from the international rebate, employing over 21,000 local cast and crew. Government projections indicate that every $NZ1 invested through the rebate generates approximately $NZ2.40 in economic returns, supported by the additional $NZ577 million in funding allocated in May, bringing the total allocation for the International Screen Production Rebate to $NZ1.09 billion.

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