Will Disney Take ‘Pirates 5′ Down Under Using ‘20,000 Leagues’ Tax Incentive?
An early 2015 shoot for “Pirates of the Caribbean: Dead Men Tell No Tales,” which will be film Australia, is being considered by Disney. However, due to Australia pushing for legislation allowing the location destination to have a better edge for foreign productions, the project has to go under lucrative circumstances. Read on to learn more about this scoop.
According to Deadline, Disney is in talks for an early shooting of the fifth installment for its “Pirates of the Caribbean” franchise, “Pirates of the Caribbean: Dead Men Tell No Tales,” which is to be shot in Australia. With Australia’s increase in its incentive for foreign productions and all, status of the film has become unclear.
In 2013, the Australian government offered Disney a payment of 21.6 million AUD, about 20.14 million USD for the shooting of the film, “20,000 Leagues Under the Sea: Captain Nemo,” in its territory. Disney is now in discussions whether to consign the incentive to “Pirates of the Caribbean 5.”
Originally, the initial incentive offered for “20,000 Leagues” was an increase to the standard 16.5 percent tax rebate on local production costs for foreign productions in the Australian territory, but it has raised to 30 percent rebate, which the local industry has long petitioned to be set as standard.
“Australian film talent is now being lost to the UK, the U.S. and Asia — film industry is at the crossroads and in danger of losing its world standing unless it introduces competitive location incentives,” noted MEAA Director Malcolm Tulloch in his letter to Arts Minister George Brandis, expressing the groups support for the increase in incentive of foreign productions.
Tulloch further explained that the group is currently under negotiations that will give certainty for production labor costs.
New Zealand has increased its tax incentives last year with James Cameron’s three “Avatar” sequels to be shot in its territory. Cameron promised to spend at least 500 million New Zealand dollars for the next “Avatar” films, and 90 percent of the crew would come from the local.
“Pirates of the Caribbean” is a series of swashbuckling fantasy films produced by Jerry Bruckheimer, starring Johnny Depp as the curiously strange and funny Jack Sparrow. It takes place in a fictional historical setting — a world ruled largely by an amalgam of alternative versions of the British Empire and the East India Company, with the pirates representing freedom from the ruling powers.
“Pirates of the Caribbean 5” will be directed by Joachim Ronning and Espen Sandberg from the screenplay of Jeff Nathanson. “Dead Men Tell No Tales” is currently in development and is set for release on July 7, 2017.
That’s it for the latest scoop on “Pirates of the Caribbean 5: Dead Men Tell No Tales.” For more details on this movie, stay tuned here on Movie News Guide (MNG).
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