Screen writers, actors, up-and-coming producers and others at the low salary end of the Australian film industry are breathing a sigh of relief following the Federal Government's decision to give them the same tax exemption that they recently gave to farmers.
An earlier draft of Australia's new tax bill stated that anyone who earns less than A$20,000 a year from small business ventures would not be allowed to offset losses against income earned by other means. This would have prevented some members of the film-making community and "professional artists" from reducing their tax liability.
The uproar from farmers quickly resulted in them being granted an exemption, providing off-farm income stayed below A$40,000 per year. Artists and film-makers picked up the vigorous campaign and have been granted the same exemption.