Reader’s response - South Africa: State Gets Behind Local TV and Film Industry with tax incentives package
The content of the article published under the above subject heading is in fact correct. I would like to draw your attention to the fact that the Heading for the story is indeed incorrect and might be misleading to readers..
The SA Dept of Trade & Industry has made revisions to it's Film REBATE SCHEME. This is not a Tax rebate or a Tax Incentive at all. It is based on how much is spent from the budget in SA. Please note that this expenditure is not an upfront payment, but is subject to a rigorous Audit process when the film is complete in order to determine "The Qualifying Spend" upon which The DTI REBATE SCHEME is presently structured.
However Section 24f of the SA INCOME TAX act does in fact provide a notional measure of Tax Relief if applied for in advance, however the actual benefits under Section 24 are questionable and have in the past 10 years not been found to be attractive at all to individuals or to the financial sector.
Thus the DTI REBATE INCENTIVES is the only SA State mechanism available for SA Feature Film Production at this time.