Tax breaks 'will launch Australia into the top 3'

Tax breaks 'will launch Australia into the top 3'

By Rob Crossley

July 6th 2011 at 3:55PM

Game Developers Association of Australia hails new $1.9bn tax relief scheme

Australia will grow again to become one of the world’s most important game development nations, a local association has predicted after a generous game tax breaks package was introduced to the region.

Tony Reed, CEO of the Game Developers Association of Australia, believes Australia can be a leading game development nation within five years.

The claim comes after the Australian Government's proposed research and development tax credits plan was approved in Parliament.

That breakthrough scheme sets aside $1.9 billion for digital creative companies across the country.

"No matter how big or small a studio is, this is the kind of thing that will encourage development,” Reed said in an interview with Gamespot.

He said the tax break policy is designed “with our own independence, creativity, and innovation in mind”.

“Our goal at the GDAA is to prepare Australia to become one of the top three territories in the world for game development within the next five years.

“I think this can be achieved,” he added.

“The industry is doing really great right now and we seem to have gone back to our roots in generating amazing content."

Investment in Australia’s development sector comes years after a investment drought across the country.