Tax Free Art 2024

Enjoy a 100% immediate tax deduction on art purchases for your business this financial year, up to $20,000 per item. You can benefit from this deduction on each individual purchase, with no limit on the number of items you buy. Our collection includes Australian contemporary, including original paintings, limited drawings, perfect for enhancing your workspace. Contact us today for more information or to seize this opportunity before the financial year ends.

Official Tax Advice from an Independent Consultant:

- Personal investments in art unto $300 are 100% tax deductible. This includes work for your home, bedroom or living area.

- Artworks are depreciable assets eligible for 100% depreciation if used or displayed in business premises, acquired from May 12, 2015, to June 30, 2024.

- The announcement applies to businesses with their own ABN, such as lawyers, doctors, accountants, engineers, plumbers, storekeepers, and franchisees.

- There's no limit on the number of artworks you can purchase and depreciate at 100%, and the $20,000 limit applies to each artwork, not the total cost.

- Both new and old artworks qualify for the 100% depreciation incentive if purchased before June 30, 2024.

Investing in art for your office or business is now more valuable than ever, enhancing employee inspiration and the overall work environment while positively shaping your corporate image. Art is an integral part of business presentation and operation, delivering significant impact on workplace ambiance and productivity.