Document ID: chunk:federal_register_of_legislation:C2025C00029:section:8:p16
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 8 (pt 16/19)
Character Range: 5296291–5298780

producer offset) for an income year in respect of a *film if:
 (a) the film was *completed in the income year; and
 (b) the *film authority has issued a certificate to the company under section 376‑65 (certificate for the producer offset) for the film; and
 (c) the company claims the offset in its *income tax return for the income year; and
 (d) the company:
 (i) is an Australian resident; or
 (ii) is a foreign resident but does have a *permanent establishment in Australia and does have an *ABN;
  when the company lodges the income tax return and when the tax offset is due to be credited to the company.
The claim referred to in paragraph (c) is irrevocable.
Note: The producer offset is a refundable tax offset: see section 67‑23.
 (2) A *film is completed:
 (a) for a film that is not covered by paragraph (b) or (c)—when it is first in a state where it could reasonably be regarded as ready to be distributed, broadcast or exhibited to the general public; or
 (b) for a series other than a drama series—at the earlier of:
 (i) the time when the episode in which the 65th commercial hour is reached is first in a state where it could reasonably be regarded as ready to be distributed, broadcast or exhibited to the general public; and
 (ii) the time when the series is first in such a state; and
 (c) for a season of a series other than a drama series—at the earlier of:
 (i) the time when the episode in which the 65th commercial hour is reached is first in a state where it could reasonably be regarded as ready to be distributed, broadcast or exhibited to the general public; and
 (ii) the time when the season is first in such a state.
 (3) Film authority means Screen Australia.
 (4) The company is not entitled to the producer offset if:
 (a) the company or someone else claims a deduction in relation to a unit of industrial property that relates to copyright in the *film under former Division 10B of Part III of the Income Tax Assessment Act 1936; or
 (b) a final certificate for the film has been issued at any time under former Division 10BA of Part III of the Income Tax Assessment Act 1936 (whether or not the certificate is still in force); or
 (c) a certificate for the film has been issued at any time under section 376‑20 (certificate for the location offset) (whether or not the certificate is still in force); or
 (d) a certificate for the film has been issued at any time under section 376‑45 (certificate for the PDV offset) (whether or not the certificate is