Australia a "top-three territory" within five years

The Game Developers Association of Australia intends to make the territory one of the top-three development communities in the world.

In an interview with Gamespot, GDAA CEO Tony Reed cited the R&D tax credits announced last month as the boost the country's industry needs. If the legislation passes, businesses with annual turnover of less than AUS $20 million will be refunded 45 percent of their research costs.

This would apply to the majority of Australian developers, prompting Reed to describe the package as, "the most convenient and easiest... we've ever seen from the government."

"No matter how big or small a studio is, this is the kind of thing that will encourage development," Reed added. "It is designed with our own independence, creativity, and innovation in mind."

"Our goal at the GDAA is to prepare Australia to become one of the top three territories in the world for game development within the next five years. I think this can be achieved. The industry is doing really great right now and we seem to have gone back to our roots in generating amazing content."

For more information on Australia's R&D tax credits, click here.