Spiffing

Did you know that total budget does not equal your TPE, and that neither equal your QNZPE, which is always smaller than the others? QNZPE, btw, is not a mutation of swine flu, but Qualifying NZ Production Expenditure, while TPE is Total Production Expenditure. Such are the sacred mysteries of SPIF (a special password standing for Screen Production Incentive Fund). It's as impenetrable as an accountant's rectum, but much more rewarding to a filmmaker.

Basically it's the government fund which allows a 40% rebate on qualifying film expenditure, albeit after the film has reached completion. And before anyone gets too excited, the threshold of qualifying expenditure for a feature is NZ$4m, which usually means you need to be operating a $5m budget before you get near it.

If that's not enough to put the faint-hearted off, I've just about completed our application, which amounts to 180 pages of supporting documentation. Just as well I haven't got a proper job! Nevertheless, to get the rebate would be, well, spiffing.