Disney to get $17million subsidy

Los Angeles: Australias federal government will provide a $17.1 million subsidy to Disney to shoot a yet untitled Marvel movie, speculated to be the first superhero film with an Asian protagonist, at Fox Studios Australia. Disney took ownership of the Sydney studios last month as part of its acquisition of 21st Century Fox, reports variety.com. Australia also offers location incentive schemes, known as offsets, that are directly linked to the amount of production spending in the country.

The film will also be able to claim the 16.5 per cent location offset. “The Australian government’s location incentive increases the existing location offset rate from 16.5 per cent to 30 per cent for eligible large budget international productions that are successful through the application process,” according to Federal Minister for Communications and the Arts Mitch Fifield and the New South Wales (NSW) state government’s Minister for the Arts Don Harwin. (IANS)

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