Document ID: chunk:federal_register_of_legislation:C2024A00067:clause:6_10:p1
Version: federal_register_of_legislation:C2024A00067
Segment Type: clause
Provision Reference: sch 6 cl 10 (pt 1/3)
Character Range: 98495–101365

10  After section 376‑25
Insert:

376‑27  Minimum training expenditure requirement
 (1) A company satisfies the minimum training expenditure requirement for a *film under this subsection if the company incurs expenditure (the training expenditure) that satisfies the conditions in subsections (2), (3) and (5).
 (2) The amount of the training expenditure must be at least the *minimum training expenditure amount for the *film.
 (3) Each part of the training expenditure must be:
 (a) expenditure that is both:
 (i) *qualifying Australian production expenditure of the company on the *film; and
 (ii) incurred for, or reasonably attributable to, eligible training that is provided to an individual that has worked on, or is working on, the *making of the film; or
 (b) expenditure that consists of payments made (for any purpose) to an eligible provider (other than an eligible provider that is an *associate of the company):
 (i) after the production commencement day for the film; and
 (ii) before either the making of the film ceases or the company's qualifying Australian production expenditure on the film ceases being incurred (whichever is earlier).
 (4) To avoid doubt, the expenditure referred to in paragraph (3)(b) need not be *qualifying Australian production expenditure of the company on the *film.
 (5) The amount of the training expenditure that is *qualifying Australian production expenditure of the company on the *film must be at least 50% of the *minimum training expenditure amount for the film.

Meaning of minimum training expenditure amount
 (6) The minimum training expenditure amount is:
 (a) for a *film with a production commencement day that is on or after 1 July 2024 but before 1 July 2025—either:
 (i) unless subparagraph (ii) applies—the lesser of $250,000 and 0.5% of the company's total QAPE on the film; or
 (ii) if regulations have been made for the purposes of subsection (7)—the lesser of the prescribed monetary amount and the prescribed percentage of the company's total QAPE on the film; or
 (b) for a film with a production commencement day that is on or after 1 July 2025—either:
 (i) unless subparagraph (ii) applies—the lesser of $500,000 and 1% of the company's total QAPE on the film; or
 (ii) if regulations have been made for the purposes of subsection (7)—the lesser of the prescribed monetary amount and the prescribed percentage of the company's total QAPE on the film.

Prescribed amount and prescribed percentage
 (7) Subject to subsection (8), regulations made for the purposes of this subsection may prescribe:
 (a) a monetary amount (the prescribed monetary amount) not exceeding $750,000; and
 (b) a percentage (the prescribed percentage) not exceeding 1%.
 (8) If the regulations prescribe a monetary amount or a percentage, the regulations must prescribe both a monetary amount and a percentage.

Definitions