Aussie Game Developers Getting Massive Tax Break From Australian Government
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The Australian Government is planning to announce a 30% tax break for Australian video game developers as part of the 2021 Federal Budget this week.
Called the Digital Games Tax Offset, it is part of the government's wider Digital Economy Strategy. From a statement on the Prime Minister's website, the tax cut is designed "to support Australia taking a greater share of the $250 billion global game development market."
The Digital Games Tax Offset will be available from 1 Jul 2022.
Eligibility:
▸ Australian resident companies or foreign resident companies with a permanent establishment in Australia.
▸ A company will have to spend at least $500,000 to qualify, and games that have gambling elements or don’t receive a classification cannot get the offset.
The Australian games industry has given us many hit games over the years, from blockbusters like L.A. Noire and Bioshock, to massive mobile titles like Fruit Ninja and Crossy Road - and even indie gems like Hollow Knight, Puzzle Quest and Golf Story. But it has also seen it's share of struggles, with many prominent Aussie studios struggling to stay afloat over the years.
Back in Feb this year, Activision also announced plans for an expanded studio in Melbourne, Australia. Check out our previous coverage here: https://www.youtube.com/watch?v=N4NDF0Lobuc