In November 2017 Professor David Throsby, the eminent arts economist, released a further instalment of his report, Making Art Work: An Economic Study of Professional Artists in Australia
Lowensteins 2017 prizes for tertiary visual art students.
In this Fact Sheet 'How can artists best manage their money?' we turn our attention to the many ways that artists earn their income and see what is the best way for them to manage their cash flow.
As we near the end of the calendar year, it is timely to remind our clients of the need to prepare any tax returns and BAS statements that may be outstanding.
On the weekend of the 1st of December 2017 I had the opportunity to explore the art scene in and around Brisbane.
As well as viewing the stunning Gerhard Richter show and, in complete contrast, the Kusama show at the Queensland Art Gallery and Gallery of Modern Art (QAGOMA),
Every decade many Australian artists, curators, collectors and art tourists swing around Europe between April and November when the Venice Biennale, Documenta and the Skulptur Projekt Münster are aligned.
Following on from the last Fact Sheet that was published in the June 2017 Newsletter, the next step is to examine the issues of ABN or Australian Business Number and GST or Goods and Services Tax registrations.
It is with great pleasure that the Directors of Lowensteins announce that Mr Piyush Thakrar, who until recently has been our Senior Accountant, has been promoted to the management team and has been appointed as a Senior Associate.
The Government has released draft legislation that seeks to put into effect the changes for rental property claims, as foreshadowed in the last Budget.
During the week of the 6th to 10th of September, Sydney hosted the bi annual Sydney Contemporary Art Fair (SCAF).
Plenty enough of the books about visual arts, art histories move forward painter by painter. It is something different and welcome to read how our art has galloped ahead, gallery by gallery. In this new book Christopher Heathcote handles the later post-War period, 1956-1976, in this way.
For this edition I invited Emeritus Professor Chris Wallace-Crabbe from Melbourne University to review a very interesting book I read that is an excellent source of history about the genesis of the commercial aspects of the Australian art world.
It is with great sadness that we learned of the closure of the Castlemaine Art Gallery, one of Regional Victoria’s premier art institutions.
From the start of the new financial year, we have decided not to issue any more refund cheques to our clients. We will be asking all clients for banking details as we will be making EFT payments direct into your account.
Housed in a former rag trade warehouse, fortyfivedownstairs is a gallery and performance space tucked up the top end of Flinders Lane in Melbourne’s art gallery strip.
In our last edition , we looked at the criteria that the Australian Tax Office (ATO) consider when they examine whether an artist is carrying on a bona fide arts practice.
The Directors and staff at Lowensteins wish Tamara a very fond farewell and say thanks for serving in her role as Director of NAVA with great distinction and absolute commitment.
On Tuesday 9 May 2017 Treasurer Scott Morrison handed down the 2017-18 Federal Budget, his second Budget.
In his Budget Speech the Treasurer reported a deficit of $29.4bn for 2017-18. However, the government forecasts this to improve to a surplus in of $7.4bn by 2020-21. The Budget expects the economy to grow at 2.75% in 2017-18 and 3.0% in 2018-19, supported by growth in household consumption, exports and a transition to non-mining business investment.
On my last visit to Sydney over the Queen’s Birthday Weekend, I travelled off my normal well-worn track of Paddington to the newly relocated galleries in the south of Sydney.
It has come to our attention that 457 Visa changes will affect the Cultural Sector. The Lowensteins are looking into this issue and will report further as more details become available. For more details, visit http://www.border.gov.au/Trav/Work/Work/Skills-assessment-and-assessing-authorities/skilled-occupations-lists/removed-skilled-occupations
We have decided to prepare a series of ’Fact Sheets‘ that encapsulate basic information on how to start an arts business and, once started, how to successfully run this endeavour. In this edition of the Newsletter we will outline the steps that artists need to take to ensure that they are making tax claims as a ‘business’.