The Screen Production Incentive Fund
The Government has announced as part of the 2008 Budget a new scheme for New Zealand film and television production known as the Screen Production Incentive Fund or SPIF to be established from 1 July 2008.
The SPIF will provide a grant of 40 per cent of qualifying NZ production expenditure (QNZPE) for eligible NZ feature films of $5 million and over and 20 per cent of QNZPE for eligible television and other screen productions with varying levels of minimum expenditure including $500,000 per hour of series television. The SPIF will only be made available to productions that meet a 'significant New Zealand content' points test. Funding for the SPIF has been drawn from existing NZ Film Commission Funding and a new allocation from Government.