Michael
Fox

Arts Accountant & Valuer

Creative industries taxation

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  • Michael Fox

    Arts Accountant & Valuer

  • Home
  • Creative Industries Taxation
  • Tax planning
  • Art valuation & appraisals
  • Blog
  • Media
  • Team
  • Contact

2024 – The IR Year of Living Dangerously

EIGHT IMPORTANT THINGS TO KNOW ABOUT YOUR 2023 TAX RETURN

End Of The Instant Artwork Write Off Is Nigh

Working From Home Deductions – The Rules Will Change At The End Of February

Murray Walker TikTok drawing

Notes on the TikTok tax scandal

10 things to know about your 2022 tax return

IT’S TIME!……TO CHANGE THE SUPER ART LAWS

NSW Government 2022 Small Business Support Program

Current Australian tax implications of cryptocurrency investing and use

Are you a director of a company? New Director ID system is about to commence

Business support and COVID-19 disaster payments changes imminent

COVID Business Support for NSW – an overview

Practice Update and Victorian Lockdown 4.0

The Instant Artwork Write-Off

Tax Cuts & JobMaker – The End of The Covid Year

JobKeeper 2.0 – New Rules Announced

JobKeeper and JobSeeker Extended amidst a State of Disaster in Victoria

10 Things You Should Know About JobKeeper

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Recent Articles

  • 2024 – The IR Year of Living Dangerously
  • EIGHT IMPORTANT THINGS TO KNOW ABOUT YOUR 2023 TAX RETURN
  • End Of The Instant Artwork Write Off Is Nigh
  • Working From Home Deductions – The Rules Will Change At The End Of February
  • Notes on the TikTok tax scandal

Categories

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  • Artwork tax deduction
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  • Innovation
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  • Students
  • Super art
  • Superannuation
  • Taxation of the arts industries
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  • Uncategorised
  • Valuation

Contact

  • admin@artsaccountants.com.au
  • Melbourne Office
    + 61 3 8560 3583
  • 65 Wellington Street
    Collingwood, Victoria 3066
    PO BOX 603 South Yarra VIC 3141
  • Sydney Office
    + 61 2 8875 7760
  • Avaya House
    123 Epping Road
    Macquarie Park NSW 2113
    PO BOX 603 South Yarra VIC 3141
  • Hobart Office
    + 61 3 6200 7660
  • 1/102 Collins Street
    Hobart TAS 7000
    PO BOX 603 South Yarra VIC 3141
  • Perth Office
  • + 61 8 9288 1711
  • Level 28, 140 St Georges Terrace
    Perth WA 6000
    PO BOX 603 South Yarra VIC 3141
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Recent Articles:

  • 2024 – The IR Year of Living Dangerously
  • EIGHT IMPORTANT THINGS TO KNOW ABOUT YOUR 2023 TAX RETURN
  • End Of The Instant Artwork Write Off Is Nigh
  • Working From Home Deductions – The Rules Will Change At The End Of February
  • Notes on the TikTok tax scandal

  • Honestly, thank you all. I’ve never had such incredible service. I’ve actually never had a tax accountant know so much about me before we speak – your background research was spot on.
    Saved us so much time and hassle. Highly recommend Michael and the team. As for our returns, you’ve literally set our little family up for a great year ahead.

    Christine, Perth
    Radio Producer

  • Thanks to you I’ve now got a deposit for a house so I couldn’t be more pleased.

    Joshua, Melbourne
    Theatrical dresser

  • Michael and the team always deliver the most prompt, efficient and professional service, I can’t recommend them highly enough.

    MANDY, NSW
    RADIO CONTENT DIRECTOR

  • Through my accountant I was referred to Michael to assist with the transfer of three Polly Courtin paintings from my super fund to me because I did not want to pay for storage of the works after 30 June this year. Michael produced a valuation report that allowed me to do just that and he also told me I could claim the artworks as a depreciation claim. Fantastic.

    SIMON, MELBOURNE
    MANUFACTURER

  • 'Thank you for the quick and easy help from you all. Your assistance is fast, easy to understand and without any judgement, love it!'

    FELICITY, MELBOURNE
    DESIGNER

  • 'I wanted to say thank you to you and your team for all your support during this difficult time. I’ve been finding this period really difficult but the help and knowledge you’ve shown has been a real comfort. Sincere thanks!'

    MATT, SYDNEY
    TELEVISION PRODUCER

  • A huge thank you to you and your team for your exceptional work during this period. Most people I know are completely unaware of the stimulus package as their accountants haven’t informed about any entitlements. You and your team have been so proactive in passing on this vital information that will literally be the difference between surviving this downturn and going under. Thank you!'

    KELLY, MELBOURNE
    COMMERCIAL PHOTOGRAPHER

  • My cleaner closed a door into the middle of a Leonard Brown painting I was storing in my office, tearing the canvas and making the painting unrepairable. Because the artist has a higher gallery price than auction price, my insurance company only offered me a quarter of the painting's cost. Michael produced a report to verify the history of the artwork and its uniqueness, and the insurance company then paid me the correct amount in compensation.

    JOHN, BRISBANE
    LAWYER

  • As an art teacher, I have a wage of more than $40,000 but as an exhibiting artist I sometimes spend more on materials than I receive in sales. Particularly when I am preparing for a big show. I did not realise, until Michael explained it to me, that the loss on my practice could not be deducted from my teaching wage unless I met certain conditions. Michael was able to work out the conditions that allowed me to claim the loss on my artist practice and the additional refund came in handy for my next show.

    REGINALD, SUNSHINE COAST
    VISUAL ARTIST

  • As an art teacher, I have a wage of more than $40,000 but as an exhibiting artist I sometimes spend more on materials than I receive in sales. Particularly when I am preparing for a big show. I did not realise, until Michael explained it to me, that the loss on my practice could not be deducted from my teaching wage unless I met certain conditions. Michael was able to work out the conditions that allowed me to claim the loss on my artist practice and the additional refund came in handy for my next show.

    REGINALD, SUNSHINE COAST
    VISUAL ARTIST

  • I was referred to Michael by a musician friend, who is one of his clients. My former accountant had prepared my return for the first year where I had made good money and told me I had to pay $12,000 income tax. Michael explained that there were special tax rules for musicians and processed my return so that I did not have to pay the tax my former accountant said I had to pay.

    MARCELLO, SYDNEY
    MUSICIAN

  • This return is literally life changing. Paying off debt and starting savings. Thank you so much. I've recommended you to a whole bunch of people and even suggested those who've already had their tax done to check with you if it's worth an amendment. Honestly, between you and this barefoot investor book, I'm finally feeling more in control of my finances. Thanks so much!

    SAMANTHA, MELBOURNE
    FILM PRODUCER

  • My singing career was taking off but I was worried about when I had to register for GST and how much tax I had to pay. Michael explained that I only had to register when my sales exceeded the threshold for two years running and advised that I should have my accounts prepared each three months to work out my income tax in advance. I now feel in charge of my finances and I am easily handling the GST and income tax obligations.

    MICHELLE, SYDNEY
    PERFORMER

© 2023 Michael Fox | Arts Accountant & Valuer.

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