Millions of dollars in tax breaks will flow to the Australian TV and film industry after the federal government capitulated to Labor’s demands and abandoned its attempts to tighten rules as it increased tax rebates.
The opposition declared victory on Wednesday after the debate over the bill devolved into political brinkmanship, claiming it had forced the government into a “humiliating backdown”.“Labor’s sensible and responsible amendment has saved jobs and businesses,” Labor spokesman for the arts Tony Burke said.
But with one sitting day left, the government cut its losses rather than risk defeat or further delaying the industry’s access to the increased producer offset until next year.
LisaVisentin ABCTV Can we get another series of Frayed please?
LisaVisentin AlboForPM