24Expenditure statements for certificates for the PDV offset

24 Expenditure statements for certificates for the PDV offset

(1) For paragraph 17(2)(b), an expenditure statement for a certificate for the PDV offset must comply with subrules (2) to (5). (2) An expenditure statement must: (a) specify any estimated qualifying Australian production expenditure on the film, to the extent that it relates to post, digital and visual effects production for the film, claimed under: (i) item 4 of the table in subsection 376‑150(1) of the Act (expenditure incurred in producing additional content); or (ii) an item of the table in subsection 376‑165(1) of the Act; and (b) specify any expenditure incurred by an outgoing company.

Note: Outgoing company is explained in subsection 376‑180(1) of the Act.

(3) The expenditure statement must also include: (a) a statement of the estimated qualifying Australian production expenditure on the film, to the extent that it relates to post, digital and visual effects production for the film; and (b) a description of each budget item; and (c) the amount of projected expenditure on each budget item; and (d) details of each service provider by budget item; and (e) details of the location in which, and the period over which, each service or good has been, or will be, provided; and (f) details of the location of any land to be used in making the film, and the period of use of the land.

Note: The estimated qualifying Australian production expenditure on the film, to the extent that it relates to post, digital and visual effects production for the film, must be at least A$500,000 for PDV work commenced on or after 1 July 2010, and A$5 million for PDV work commenced on or after 1 July 2007 but prior to 1 July 2010 (see paragraph 376‑45(5)(a) of the Act).

(4) An amount in an expenditure statement must be expressed in Australian currency. (5) For the purposes of an expenditure statement, an amount in foreign currency that is relevant for a purpose mentioned in column 2 of item 9A or 9B of the table in subsection 960‑50(6) of the Act must be translated into Australian currency using the special translation rule in the relevant item as if a reference in that item to qualifying Australian production expenditure were a reference to estimated qualifying Australian production expenditure.