The Government recognises the substantial economic and cultural contributions of Australia’s digital games sector and plan to incentivise local game developers to increase our market share in this rapidly growing market.
The global games industry is one of the largest creative industries in the world, worth $250 billion. In 2020-21, Australian game development studios generated $226.5 million of income and employed 1,327 fulltime workers.
Once legislation comes into effect, a 30 per cent refundable tax offset will be available to eligible games developers that spend a minimum of $500,000 on qualifying Australian development expenditure, incurred from 1 July 2022.
Australian video games are already enjoyed across the world, and the Offset will take our talent to the next level, enhancing domestic development opportunities, attracting overseas investment and supporting ongoing digital skills progression.
This skills development will also open the doors of limitless opportunity in other sectors, such as defence, health, education, agriculture and urban planning.
