GDAA: Tax Credits Will Make Australia Tops in Five Years

July 6, 2011 -

Game Developers Association of Australia predicts that in five year's time Australia will be one of the top game development territories in the world. Tony Reed, CEO of the Game Developers Association of Australia, credits the future benefits of the Australian Government's proposed research and development tax credits.

The new A$1.8 billion ($1.89 billion) research and development tax credit legislation will give developers a 45 percent refundable tax credit. The credit is meant for companies that have a turnover of less than A$20 million, a requirement that many Australian game development studios fall into. Reed says that this new tax credit bill will help the local video game industry become one of the top three game development territories in the world and he hopes this can be achieved in the next five years. Australian studios have to register with the government to apply for the tax credit and are required to show proof of research and development.

"No matter how big or small a studio is, this is the kind of thing that will encourage development. It is designed with our own independence, creativity, and innovation in mind. Our goal at the GDAA is to prepare Australia to become one of the top three territories in the world for game development within the next five years. I think this can be achieved--the industry is doing really great right now and we seem to have gone back to our roots in generating amazing content."

The bill is currently waiting to pass through the Australian Federal Parliament.

Source: GameSpot


Comments

Re: GDAA: Tax Credits Will Make Australia Tops in Five ...

I do not think that any country that has an offical censorship board will ever be 'top', no matter what the tax credit.  It leaves too bad of a taste in the mouth of trans national companies.

Re: GDAA: Tax Credits Will Make Australia Tops in Five ...

you over look one inportin fackter  how much cheaper will it be to get work dun there then in say the us if its cheaper there then cumpanes will move regardlis of any laws there a bisnis and out to make mony that is the inportin thing.

 

amdyslexic and have a learning disablement from when i died as a baby and sustained brain damage do to lack of oxygen pleas pardon my bad spelling and grammar

 

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am dyslexic and have a learning disablement from when i died as a baby and sustained brain damage do to lack of oxygen pleas pardon my bad spelling and grammar-

Re: GDAA: Tax Credits Will Make Australia Tops in Five ...

It's not really so simple. Being cheaper and having more tax credit won't mean anything if a studio will have a 50/50 chance of getting any of their games released at all, due to the aforementioned censorship board.

Some things just aren't worth saving a few dollars.

 

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Re: GDAA: Tax Credits Will Make Australia Tops in Five ...

Not only that, but censhorship boards have a historial effect of posioning the local tallent pool, so any studio that set up there for tax reasons would have to import a good chunk of its development staff, which could very well offset the tax breaks.

 
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