Thursday, September 10, 2009

Great News for Australian Artists and Australian Business

'The Australian Tax Office has confirmed that small businesses are eligible to receive an investment allowance of up to 50% on the purchase of art (over $1000, which includes multiple works regarded as a series, by artists with an ABN) for the 2009 income tax year. The ATO accepted that an art enhanced work environment can generate productivity and that there is a causal relationship between businesses displaying artwork and the income of their clients. Works must be purchased before the end of this year.'

I have known about this for several months but due to the time lag with publishing I am only beginning to see this in print. The above statement is an extract from Art Monthly Magazine Artnotes. More information can be obtained from the Australian Tax Office or your accountant.

We should be shouting this from the rooftops. So if you have a business and like my art work I have an ABN and you can view my works on my website or visit Anita Traverso Gallery in Melbourne

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