The guidelines for the Temporary Interruption Fund (TIF) have been released to provide further information about how Australian producers will be able to access the fund.
What is TIF?
The TIF is a $50 million fund designed to assist new local productions that have not been able to start production due to production insurance exclusions relating to COVID-19.
Screen Australia will administer the fund and will provide up to 60 per cent of a production’s total budget or $4 million – whichever is less. The applicant may also agree to a lesser amount than this capped amount.
The TIF is designed for productions that have a live action principal photography component and only applies to productions that have Film Producers Indemnity (FPI) Insurance that excludes coverage for COVID-19 events.
Who is eligible?
Applicants must apply to Screen Australia to access the TIF and applications must be in respect of Australian productions that are made in Australia. Foreign productions that are shooting in Australia are ineligible.
To be eligible:
Applicants are also required to meet the following requirements of Screen Australia’s Terms of Trade:
Applicants may also be previous recipients of Screen Australia production funding or investment.
Animation programs are ineligible unless it is hybrid live-action animation and is predominantly live action.
How will applications be assessed?
Screen Australia will prioritise access to TIF based on the following factors:
Is there a fee?
Production companies must pay a fee for TIF coverage. The fee will be 1 per cent of the total TIF coverage for the production. For example, if the TIF coverage is $1 million, the fee will be $10,000.
Applications for the TIF will be open until 28 May 2021 and it is hoped this fund will see the commencement of many Australian productions and will revive a film industry that has been dealt a particularly hard blow by COVID-19.
Authors: Madison Tonkes & Dan Pearce
The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this newsletter is accurate at the date it is received or that it will continue to be accurate in the future.