Supporting Australian art - proposals to reform the taxation of artworks

By Michael Fox on 10/11/2016 in Taxation of the arts industries, Superannuation, Artwork tax deduction, Self-managed funds, Capital gains tax, Artists, Super art

The super art laws are consistent with the original intent of the CGT rules in deterring speculation in art – but the impact on the livelihood of artists from these changes warrants reform to the taxation of artwork. Proposals to provide taxation incentives for artists should be made where it is also beneficial for the integrity and efficiency of the Australian taxation...

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Artwork Tax Deduction For Small Business

By Michael Fox on 28/6/2016 in Small business, Depreciation, Artwork tax deduction

There is no bar to whether the artwork is bought as a resale or whether the parties involved in the transaction are related to each other. There is no limit to the number of artworks costing less than $20,000 that a small business may claim a tax deduction for. The depreciation provisions in the Small Business Measures may also offer super funds a tax-effective strategy to...

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Joy FM Podcast - Fox Galleries - Mekong Lights

By Michael Fox on 19/12/2016 in Artwork tax deduction, Artists

Listen to Michael Fox talk about the Jim Ulrich exhibition held at Fox Galleries and provide information about investing in art....

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5 tax tips for serious art collectors

By Michael Fox on 3/5/2017 in Depreciation, Artwork tax deduction, Federal budget, Super art

5 tax tips for serious art collectors ...

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Top 10 tax claims for artists and creative professionals

By Michael Fox on 24/6/2017 in Home office tax deductions, Business tax returns, Individual tax returns, Car expenses, Depreciation, GST, Artwork tax deduction, Artists

Top 10 tax claims for artists and creative professionals...

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