The South African Film and Television Production Incentive, a sub-programme of the South African Film and Television Production Incentive Programme, is to support the local film and television industry as well as contribute towards employment opportunities in South Africa.
The Incentive is available to qualifying South African productions as follows:
- The Qualifying South African Production Expenditure (QSAPE) should be at least R1.5 million;
- For documentaries, the Qualifying South African Production Expenditure (QSAPE) should be at least R500 000.
The Incentive provides an incentive of thirty-five percent (35%) of Qualifying South African Production Expenditure (QSAPE).
- An additional five percent (5%) of QSAPE is provided for productions hiring at least thirty percent (30%) of Black South African citizens as head of departments (HODs) and procuring at least thirty percent (30%) of the QSAPE from fifty-one percent (51%) South African black-owned entities which have been operating for at least a period of one (1) year;
The incentive programme offers a reimbursable grant to the maximum of R50 million per qualifying project.
Incentive Disbursement
The incentive is disbursed either upon completion of production or in milestone payments.
The applicant wishing to make use of the milestone payment method must acquire a completion bond. The following will apply:
• seventy percent (70%) of the cost of the completion bond will be subsidised for productions between R1.5 million and R6 million;
• fifty percent (50%) of the cost of the completion bond will be subsidised for productions between R6 million and R10 million;
• productions over R10 million are required by financiers to have a completion bond in place and therefore no additional subsidy will be granted.
Going forward, Business Grants and Dream Team Capital can play an even more important role in the co-ordination, integration and reporting on the consolidated performance of the various fragmented energy efficiency initiatives in the country. Contact us today for professional assistance in streamlining your application for the South African film and television production incentive.
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