Tax Deductible Art for Small Business

Manyung Gallery Malvern

1 June - 30 June, 2017

Tax Deductible Art for Small Business

Until 30 June 2017, small businesses (with an annual turnover of less than $2-million) can take advantage of a 100% tax deduction on the purchase of artwork for their business to the value of $20,000 per item.

This forms part of the Federal Governments 2015 budget which allows small business to claim an unlimited number of tax deductions for equipment and other items valued at less than $20,000 each. There are however a few things to consider:

  • Artwork should be in a tangible form and able to be moved from one location to another (ie, painting, sculpture, works on paper, etc)
  • Artworks must be purchased with a dominant purpose of being displayed on business premises

Please note, as with the case of all major capital investments in your business, it is wise to speak to a tax professional first before making any decisions.

 
oil on canvas
60 x 60 cm
SOLD
 
oil on canvas
60 x 60 cm
SOLD
 
oil on canvas
100 x 150 cm
SOLD
 
oil on canvas
21 x 25 cm
SOLD
 
oil on canvas
75 x 60 cm
SOLD
 
Acrylic, Ink & Gold leaf on Paper
Framed size 97 x 76
76 x 56 cm
SOLD
 
oil and gold leaf on canvas
100 x 110 cm
SOLD
 
oil on canvas
100 x 110 cm
 
Acrylic, Ink & Gold leaf on Paper
Framed size 97 x 76
76 x 56 cm
SOLD
 
oil on canvas
50 x 118 cm
SOLD
 
oil on canvas
100 x 100 cm
SOLD
 
oil on canvas
100 x 100 cm
 
ceramic
40 cm
 
Bronze on granite
35 cm
SOLD