Tax Break for Digital Games

December 17, 2021by TPA Global0

As part of its Digital Economy Strategy, the Australian government has announced a 30% tax offset (i.e. tax credit) for the digital games industry in Australia. 

From 1 July 2022, Australian residents, and foreign enterprises with a permanent establishment in Australia who spend at least AUD 500,000 in qualified costs for the development of digital games will be eligible for the offset. Expenses incurred in the creation of games with gambling components or games that cannot be classified for the purposes of this waiver, will be ineligible for the offset. 

In mid-2021, the government was expected to engage with industry on the criteria and definition of qualifying expenditure. 

Effective date: N/A

Source

TPA Global

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