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A little more about Michael Fox

Education
Master of Tax, Melbourne Law School, University of Melbourne
Bachelor of Commerce (Accountancy), University of Queensland

Qualifications
Registered Tax Agent, Tax Practitioners Board
Member, Auctioneers & Valuers Association of Australia,
Member of the Institute of Public Accountants

Boards and Appointments
Public Fund Administrator, The Baldessin Press and Studio Inc.
Founding Member, Outlaw Art Gallery
Founding Member, NotFair
Campaign Manager, Save Super Art and superartbusiness

Arts Accountancy
Michael has been assisting artists manage their tax affairs since the 1990's. It is a very specialised field of knowledge encompassing business taxation, GST, cultural gifts and income averaging to name a few areas. From 2009 to 2011, he was Senior Accountant and Australian Art Market Consultant to Lowensteins Arts Management, Melbourne.

In 2010 Michael ran the successful Save Super Art campaign that prevented the proposed ban on artwork investment by super funds. The campaign involved direct lobbying with the Federal Government during an election campaign by providing a platform for the arts industry to express their concerns on the super art ban. Following the election, Michael worked with the Australian Greens to draft legislation for the new super art laws to ensure the arts industry would not be adversely affected. He also continued to engage with the arts industry and government through a special purpose entity, superartbusiness, for the duration of the super art laws to 30 June 2016.

From 2012 to 2015 Michael completed a Master of Tax from the Melbourne Law School, University of Melbourne that included the writing of an arts taxation policy.

Early Gallery Shows
Michael's love of the arts came from his mother, a painter who specialised in watercolour and gouache, and who also played the banjo mandolin. At the same time Michael was always interested in economics and politics, so he made the difficult choice of studying commerce over art when he entered university. However, after working a number of years as an accountant, he decided to start his own gallery to exhibit artists and discover more about how the art market worked.

Fox Galleries ran in Brisbane from 1998 to 2006. Michael presented about 150 shows in that time, collaborated with Metro Arts, Jugglers and Fusions, and published a series of artist books that were distributed throughout Queensland schools. Michael presented the first solo gallery exhibitions of Anthony Lister, Samuel Tupou and Mike Chavez. Michael researched and exhibited an extensive survey of Queensland Aboriginal artists in the 'Songlines' exhibition, and produced a book on the show that is still used as a resource by art curators.

With artist Chris Booth at Fox Galleries, Brisbane

With artist Chris Booth at Fox Galleries, Brisbane

Hanging a show with Anthony Lister

Hanging a show with Anthony Lister

Michael photographed for the Lister publication 'Places & Things'

Michael photographed for the Lister publication 'Places & Things'

Exhibition opening at Fox Galleries, Brisbane

Exhibition opening at Fox Galleries, Brisbane

During that time, Michael also become involved in the Brisbane music scene and staged performances to coincide with gallery openings. He participated in the Valley Fiesta one year with a lineup of shows for a weekend that he coordinated. His involvement in music during this period would see him manage the business affairs of international act Wolfmother in 2011.

Secondary Market
In 2006 Michael was approached to commence operations in Queensland for the Melbourne auction house Leonard Joel and its national startup Joel Fine Art. Michael sourced a location in Latrobe Terrace, Paddington and successfully ran the business from there until 2008, when it was sold to Bonhams.

Artworks sourced by Michael and sold by Joel Fine Art include John Marwundjul 'Ancestors at Milmilingkan', which set a record as the highest sale price for an Aboriginal bank painting. Michael worked with the Charles Blackman Trust to present a private treaty exhibition of works from the artist's studio from 1950 to 1990 at the Joel Fine Art rooms in Paddington, which was sold out. He also wrote and published a book on this exhibition and ensured the key 1950's painting 'Barnes Auto, Brisbane' was acquired by the Queensland Art Gallery for their collection.

Valuation Experience
Michael combines an interest in the primary market (gallery exhibitions) with a knowledge of the secondary market (auctions). He understands that there often is a disconnect between the two markets, but that artists have to establish a record of sale at auction over time to assist the viability of their practice.

For collectors, Michael can assist with a wide range of valuations for the purposes of insurance, estate planning, matrimonial reasons and to transfer artworks out of super funds. He ensures that his valuation reports comply with international valuation standards and keeps up to date through his membership with the Auctioneers and Valuers Association of Australia. In 2013 Michael presented a paper to the AVAA National Conference on the super art laws.

Business Accountancy
Michael has extensive business accountancy experience. His first engagement as a tax accountant involved primary producers, which provided Michael with an insight into how income averaging works for artists. Michael has worked with medical professionals, restaurants, the construction industry and many varied businesses.

He is a specialist in superannuation, particularly the operation of transition to retirement income streams (TRIS) and account based pensions (ABPs) for super funds in the pension phase of their operations; super guarantee issues; concessional and non-concessional caps; and the treatment of artwork investment by super funds. Michael also has an extensive knowledge of tax structures, such as family trusts and companies.