More films to qualify for Screen Production Incentive Fund

Changes to a production funding scheme will enable more New Zealand feature films to be brought to production over the next two years and will support the sustainability of the local screen industry, says Arts, Culture and Heritage Minister Chris Finlayson.

Mr Finlayson announced today that the Qualifying New Zealand Production Expenditure (QNZPE) threshold for feature films to qualify for the Screen Production Incentive Fund (SPIF) has been lowered from $4 million per production to $2.5 million.

“This means there will be more opportunities for New Zealand film makers to see their projects through to completion, and more opportunities for the industry to showcase its diverse creativity, talent and originality,” Mr Finlayson said.

As well as enabling more films to be made, the lower threshold also ensures SPIF remains competitive with the Australian Producer Offset screen incentive.

SPIF was set up in 2008 to encourage investment in the New Zealand film industry by increasing support for production of medium and larger scale films.

The fund was allocated $68.5 million over five years and was established to ensure the New Zealand industry remained competitive with offshore film incentives.

So far nine feature films have received SPIF funding, including Boy, Separation City and Love Birds. About $20 million remains in the fund and is available for the next two years.

Successful recipients of SPIF grants receive 40 percent of their qualifying expenditure for feature films or 20 percent for television or other formats. SPIF is administered by the New Zealand Film Commission (NZFC).

Mr Finlayson said the lower threshold was being introduced as a response to a continuing global and local recession leading to reduced international and NZFC investment.

The new criteria will not require any additional funding.

The new threshold will apply to feature film productions that have started principal photography after 1 September 2011, and includes QNZPE incurred by these productions since 1 July 2008. Further details about the criteria change can be found on the NZFC website: www.nzfilm.co.nz.

The NZFC is holding a series of meetings with the industry to update the sector on recent changes to its funding criteria and the SPIF scheme. These meetings will be held in Auckland (10 October) and Wellington (11 October).

Meanwhile, the SPIF scheme is currently being evaluated and a report is expected to go to Cabinet in June next year with recommendations on the future of the scheme. The threshold for formats other than feature films, such as television programmes including documentaries and animation will be included in the evaluation.