NSW unplugs arts and games development funding

On Tuesday 19 September 2023, NSW Treasurer Daniel Mookhey handed down his first budget, which includes a dramatic $190 million reduction in funding to arts and games development programs in the state.

According to Screen NSW, the following programs are affected by the cuts:

• Post, Digital and Visual Effects Rebate and Made in NSW Fund
• Destination NSW Consumer Marketing, Sport Fixture fund & Policy, Product & Engagement
  Budget
• Blockbusters Funding Initiative
• Investment NSW Future Economy Fund and Jobs Plus Program Research Acceleration and
  Attraction Program and Small Business Innovation & Research Program and the Bushfire
  Response R&D Mission

In stark contradiction to this, the Australian Federal Government continues to back the game development sector, evident in the recent introduction of the Digital Games Tax Offset.

These federal incentives bolster both small and large local game projects and foster investment within Australia.

To seize this opportunity and entice game studios, various states across Australia are enhancing their game development funding efforts, recognizing the positive impact a flourishing game development sector can have on a creative and technologically skilled local economy.

Regrettably, NSW is currently moving in the opposite direction. This setback is particularly harsh for small developers in a state already struggling to keep pace with the game development funding initiatives seen in Victoria and Queensland.

If you want to know more about the Digital Games Tax Offset and how it might benefit you, head over here or get in touch with our highly qualified Gild R&D Incentives & Grants team.