The Knowledge - Brett Thornquest
CSB has been working for months on an exciting project with film journalist Andrew Urban of Urbancinefile. We’re interviewing film and television practitioners about their business experiences.
Our aim is to develop a deeper understanding about the history of business decision-making in film and television and to share with our audience the wisdom from the accumulated mistakes, experiments and achievements of the contributors.
Brett Thornquest - biography
Brett Thornquest has been working with the Moneypenny group for the past six years . He has developed a unique combination of industry experience and knowledge, both as a production accountant and in the business and tax division. He has worked on international financing arrangements, and has provided tax planning advice to domestic and international artists and entertainers. Brett has also provided consultancy services to government organizations and companies within the film and television industry on production rebates, subsidies and taxation incentives and compliance.
Brett regularly authors or co-authors articles in various international publications regarding international production finance and taxation matters. He joined Moneypenny in 2000/01 as a Production Accountant and Post Production Accountant on the feature film The Quiet American for Intermedia/Mirage Enterprises. Prior to this, Brett worked as an accountant with Acclaim Entertainment and Warner Bros.
Audio download
Chapter 1 - Working with Moneypenny - 12 minutes
- Services offered by the Moneypenny Group – production accounting, business and taxation
- Special division on production incentive schemes
- Work with clients’ accountants
- Producer Offset based on 15% Location rebate – we know it well
- The Offset empowers the producer
- Advice from assessment to completion
Video downloads
Chapter 2 - The producer offset - 9 minutes
- Producer offset bringing Australian producers closer to the international production community
- Producer offset rewards success
- Significant Australian Content test in legislation is a bit vague
- Government should clarify this – and soon
Video downloads
Chapter 3 - Cashflowing the offset - 12 minutes
- Cashflowing the Offset – some investors interested, including foreign banks looking for local partners
- Moneypenny advising on this
- There are also some equity-style, smaller operators
- Is QAPE destabilising the certainty of the Offset?
- Cashflow lending needs solid risk assessment
- Lending rates for cashflow
Video downloads
Chapter 4 - Implications of the offset - 14 minutes
- Issues arising where 3rd party equity investors view Offset as subsidy
- In TV, broadcasters may force productions in-house
- Able producers can command deals
- Money should follow talent
- Producer Offset may push up prices and budgets
- Investors interested in creating funds for portfolio investing in screen production – the Montecarlo theory
- Hollywood studios use their own money to back producers with track record – and use other people’s money for riskier projects
Video downloads
Post a Comment
You must be logged in to post a comment.