Tax Laws Amendment (2005 Measures No. 5) Act 2005 (162 of 2005)

Schedule 2   Tax offset for Australian production expenditure on television series

Income Tax Assessment Act 1997

6   At the end of section 376-15

Add:

(3) For the purposes of paragraph (1)(eb), the amount for a film is worked out by using the formula:

(Total QAPE / Duration of film hours)

where:

duration of film in hours means the total length of the film, measured in hours.

total QAPE means the total of the company's *qualifying Australian production expenditure on the film (worked out using Subdivision 376-C).