Australia’s Digital Games Tax Offset (DGTO) has officially been introduced into Parliament today, meaning that the initiative will finally be accessible in the near future.
The initiative is designed to provide developers of projects greater than $500,000 with a 30% tax incentive, which will allow studios to scale up, invest in more local talent and continue to showcase Australia as a destination of quality-made games.
The news of the bill passing was met with celebration from Australian game developers, who were excited to reap the rewards and see the positive impact it will have on the local industry.
Of the announcement, IGEA CEO Ron Curry said the following:
“By backing and introducing the legislation into Parliament, the Albanese Government has provided certainty and growth opportunities for our highly creative and technically skilled industry. The Australian game development sector has embraced this opportunity. The job creation, revenue growth and international investment in game development will further cement and enhance Australia’s reputation for delivering quality content internationally. In particular, it will create a new generation of creative 21st-century Aussie tech workers.”
It’s an exciting day for the local games industry and we look forward to seeing the positive impacts for years to come.
Despite a childhood playing survival horrors, point and clicks and beat ’em ups, these days Zach tries to convince people that Homefront: The Revolution is a good game while pining for a sequel to The Order: 1886 and a live-action Treasure Planet film. Carlton, Burnley FC & SJ Sharks fan. Get around him on Twitter @tightinthejorts
