Australian Art Is A Tax Deduction!
THE TIME HAS COME TO DECORATE YOUR OFFICE WITH AUSTRALIAN ART!
If you're Australian and run a small business or work from a home-office you may be entitled to take advantage of a 100% tax deduction on art!
Under the current small business tax allowance, buying art to be displayed in your business can be a 100% tax
So right now before June 30, is the perfect time to purchase your favourites!
HOW TO KNOW IF YOU'RE ELIGIBLE
If you're a small to medium-sized businesses with an annual turnover of less than $500 million, you qualify for the Instant Asset Write-off scheme. The Australian Taxation Office has stated that an artwork is eligible for tax deduction if it is:
- Tangible
- Purchased principally for a small to medium-sized business premise
- Capable of being moved
- Not be trading stock.
The ATO considers artworks an investment when bought by and for businesses. This makes purchasing art for your workspace under the Instant Asset Write-off scheme 100% tax deductible.
(Of course always check with your accountant to ensure you qualify under your particular circumstances)
So don't wait, take advantage of this great opportunity before the end of June!
Click here to view my available art