Page 36 - Interactive Games News Today

Date Time Budget paves way for small business-led national economic recovery The Australian Small Business and Family Enterprise Ombudsman Bruce Billson says the Federal Government’s 2021 Budget is a clear acknowledgement that small and family businesses are central to the nation’s economic recovery and future prosperity. The Budget includes several new, extended and enhanced measures to support small businesses including: $129.8 million to encourage entrepreneurship through the New Enterpr...

Gaming industry tax offset brings standards in line with film, TV Save Share Local gaming industry stalwarts have welcomed the new 30 per cent tax offset to be introduced as part of the government’s new digital economy strategy, but are quick to point out that their growing sector extends far beyond just game makers themselves. Chris Smith, a peak games industry analyst and founder and chief executive of Big Esports, said the tax incentive is a great start, but he wants outsiders to unders...

The Australian government unveiled its Digital Economy Strategy, which includes a brand new tax break for game studios. The Digital Games Tax Offset is a 30% tax relief "to support Australia taking a greater share of the AU$250 billion global game development market," the announcement said. The aim is to support business growth and change "to the way Australian businesses can claim depreciation of intangible assets like intellectual property and in-house software," the announcement continued....

Budget 2021: $1.2 Billion Into Australia’s Digital Future The Australian government has announced it will be spending $1.2 billion (US$930 million) to help grow the nation into a leading digital economy by 2030 as part of the upcoming federal budget. “Every business in Australia is now a digital business,” Prime Minister Scott Morrison said. “This transformation is not merely a national one that needs to happen—it’s a global one that is happening.” “We must keep our foot on the ...

Industry body warns of brain drain if New Zealand doesn’t follow suit. The Australian government’s recently announced 30% tax offset for game developers could lead to a brain drain if not matched by New Zealand, an industry body has warned. Australia’s next federal budget will include a 30% refundable tax offset for video game development as part of the government’s National Digital Economy Package. Australia’s Interactive Games and Entertainment Association said the break would sp...

May 6, 2021 2:17 The Morrison Government today, 6 May 2021, has announced a 30% tax offset for video game development. The announcement comes as part of this year’s Federal Budget, aiming to invest in Australia’s digital economy. The 30% refundable tax offset will be eligible for businesses that spend a minimum of $500,000 on qualifying Australian games expenditure. The Government will consult with the industry mid-2021 to define the criteria of expenditure. The Interactive Games & Enterta...

May 6, 2021 The video game industry has welcomed the federal government’s digital games tax offset of 30%, after an eight-year effort lobbying the government for such a change. The federal government announced the 30% tax offset for the video game industry as part of a $1.2 billion boost to the government’s digital economy strategy that will be included in the May 11 budget. Ron Curry, chief executive of the Interactive Games and Entertainment Association (IGEA), says the tax offset will e...

Date Time 30% tax offset a game-changer for Australian industry: Ombudsman The Australian Small Business and Family Enterprise Ombudsman Bruce Billson has welcomed the Australian Government’s $1.2 billion investment in the nation’s digital future, including the 30% tax offset for the video game industry. Mr Billson says the investment will encourage greater digital adoption by small and family businesses, to ensure they are globally competitive. “This significant investment will support s...

Image: ABC / Four Corners (YouTube) To sign up for our daily newsletter covering the latest news, features and reviews, head HERE. For a running feed of all our stories, follow us on Twitter HERE. Or you can bookmark the Kotaku Australia homepage to visit whenever you need a news fix. After months of work behind the scenes, the ABC’s Four Corners finally aired an investigation into the workings of the video game industry this week. You could almost set a clock to the inevitable reaction: ac...

More than $500 million of a $1.2 billion digital economy strategy in Tuesday’s budget will be spent on overhauling the federal government’s myGov and My Health Record sites. The initiatives, to be announced by Scott Morrison on Thursday, include $200.1 million for myGov, which is the main portal for people to access government services on line. Changes will make it easier for people to find services, from childcare providers to disaster support, as well as to manage payments and claims. The...