MYEFO at a glancePeter Martin: Why Morrison has avoided swinging the axe
Screen Australia will suffer its third round of cuts in 18 months while the government scraps the Book Council of Australia as part of $52.5 million in cuts to the Arts and Communications, $47 million of which it will redirect to major Hollywood film studios for Thor and Alien sequels.
The government has also cut $36.8 million from government-funded galleries and museums, expected to mainly affect cultural institutions in Canberra, under budget-saving measures announced on Tuesday by Treasurer Scott Morrison. 
The Mid-Year Economic and Fiscal Outlook outlines $52.5 million in cuts from the Communications and Arts Portfolio including the scrapping of the controversial Book Council of Australia, chaired by Melbourne publisher Louise Adler.
A further $36.8 million will go from "cultural and collecting entities within the Arts portfolio" although the Australia Council, which had $104 million in funding stripped under former Arts Minister George Brandis only to be partially reinstated under current minister Mitch Fifield, will not be affected.
The cuts will occur over the next four years and a three percent 'efficiency target' will also be introduced to affected institutions.
There will be $9.6 million cut from "a number of arts programmes", which includes the killing of the short-lived Book Council of Australia.

Screen Australia
??????Screen Australia will lose $10.3 million over four years - 3 per cent of its budget - in its third round of cuts in 18 months. Some of the cuts to the communication and arts portfolio will help fund the filming of two major Hollywood movies in Australia.
According to the MYEFO statement, $47.3 million over two years will go towards the Ridley Scott's Alien:Covenant, to be filmed at Sydney's Fox Studios, and the next instalment of the Marvel Studios action franchise Thor.
"The cost of this measure will be met by divestment of land from within the Communications and the Arts portfolio and other Communications and the Arts Portfolio savings identified in the 2015-16 MYEFO," the statement reads.
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That takes the total cuts since last year's budget to $51.5 million, leaving the country's main film and television funding agency with an ???annual ???allocation that will fall from $100.8 million two years ago to $82.2 million next financial year.
And while executives at the agency believe they can preserve spending on its programs this year and limit the damage in future years - helped by the repayment of cashflow loans to support the Producer Offset - ??? the Screen Producers Association was ???upset about the continued c???uts.
SPA chief executive Matthew Deaner claimed they would affect innovation and the global competitiveness of the Australian screen production industry.
"For the third time in 18 months there has been a funding cut to Screen Australia," he said. "This efficiency dividend comes after almost $4 million was cut over the forward estimates earlier this year, on top of $38 million the year before ...
"This hacking at the base of Screen Australia through isolated cuts is damaging to the industry.
"Disappointingly, the cut comes a week after the Prime Minister's launch of the Innovation and Science Agenda where the screen industry's contribution to innovation was recognised with a commitment to 'reviewing the Location Offset designed to attract major motion pictures to be produced in Australia and provide jobs in our creative industries'."
Deaner said the government needed to ensure local production was not disadvantaged.
"Screen Australia needs to continue their search for operational efficiencies, as hard as this might be, because every cut to Screen Australia's programs is a cut to business confidence. We need holistic policies that encourage more inward investment, more economic growth and more jobs through the ongoing foreign control."
???It is believed that ???Screen Australia cannot pinpoint where it will make cuts because they depend on the number and quality of applications across all of its programs. ???

Book Council of Australia
The Federal Government has scrapped the peak advocacy body for publishers and writers in the latest of a string of cutbacks to the arts budget.
News of the demise of the Book Council of Australia comes a year to the day former Prime Minister Tony Abbott announced its formation.
And it follows the Turnbull Government's support for the scrapping of parallel import rules which publishers and writers warn will lead to a flood of cheap mass market books and fewer Australian stories.
The Prime Minister Malcolm Turnbull, and Arts Minister, Mitch Fifield, made no mention of the planned cuts at the Prime Minister's Literary Awards on Monday night.
Fifield released a short statement late on Tuesday afternoon about the Book Council, saying: "I will be consulting widely with the literary community about alternative sector-led mechanisms for representation and promotion.
"I thank those who had indicated their willingness to serve on the Council, particularly Louise Adler AM, who had agreed to be Chair, and the many people who have generously shared their views on Australian writing and reading."
Sam Twyford-Moore, a former director of the Emerging Writers' Festival, expressed dismay at the developments.
"For it to be buried in a budget document and not owned by the government is distressing and offensive," he said.
Twyford-Moore helped collect more than 350 signatures protesting the Book Council's leadership and its triennial funding of $6 million at the expense of the Australia Council.
"The Book Council began as ideological warfare on the Australia Council, but those moneys - in the right hands - could have been used wisely as strategic investment in a fragile sector.
"Now? Now a lot of magazines and emerging organisations will very likely die - denied funding in the latest round of Australia Council grants - everything within the world of Australian letters is at risk."
Fairfax has been unable to contact Louise Adler, chair of the Book Council, for comment.

Special Broadcasting Service (SBS)
SBS will receive $4.1 million this year to "replace revenue that could not be raised" after legislation allowing for more advertising during primetime programming failed to pass the Senate earlier this year.
SBS managing director Michael Ebeid??? has previously said the broadcaster faced a $28.5 million hole in its budget over four years due to the setback.