24 December 2014 - MDA is pleased to announce the latest steps it is taking to streamline the grant application processes for the industry. Two modifications to the Production Assistance scheme will take effect on 1 January 2015.
This update provides the advance notice of changes to the Production Assistance scheme that will take effect from 1 January 2015.
MDA is pleased to announce the latest steps it is taking to streamline the grant application processes for the industry. The following two modifications to the Production Assistance scheme will take effect on 1 January 2015:
1 Re-channelling of funds to better serve industry interests
Currently, a portion of the available funds for Production Assistance goes to providing an additional grant for an applicant’s subsequent project based on up to 10% of the project’s expenditure on qualifying expenses.
A review of the Production Assistance scheme showed that the industry would be better served by channelling the funds for the additional grant to supporting a greater number of projects, thereby benefitting more applicants. Hence, the additional grant of up to 10% of a project’s expenditure would be retired as of 1 January 2015 and this change would apply to new applications made from 1 January 2015. Projects that are submitted before 1 January 2015 would continue to be eligible for the additional 10% grant.
2 Simplification of Administrative Processes
As part of the existing conditions of receiving Production Assistance funding, applicants are required to engage at least two trainees (who are not the applicant’s employees) as credited talent on a short-term basis to provide them with opportunities to enhance their skills. Successful applicants of Production Assistance funding are required to submit separate applications under the Talent Assistance scheme to engage the trainees.
Responding to industry feedback, MDA is simplifying the process by removing the requirement to apply under the Talent Assistance scheme and for applicants to include the engagement of the trainees in the project budget funded under the Production Assistance scheme. This means that applicants would no longer be required to submit separate applications under the Talent Assistance scheme to qualify for Production Assistance funding.
MDA will continue to regularly review our Schemes for greater efficiency and effectiveness.
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