There are some changes to superannuation to note from the 1st July 2020; removal of work test to age 67, temporary reduction in super pension minimum drawdowns, early release of super, Super Guarantee Amnesty for Employers.
The State Government has announced a further $534 million Business Support Package to provide more support to help businesses and workers through to the other side of the coronavirus (COVID-19) pandemic.
Despite this, we want to write to you and reassure you that the Melbourne office will still be functioning with only minor disruptions.
Taxation treatment of the arts is one of the many issues that have been neglected by governments of all persuasions over the last eighteen to twenty years. Now it is time to start a serious conversation about tax reform for the arts.
As you all may be aware, over the last twenty-five years Lowensteins has been very active in attempting to lobby government for changes and improvements to artists’ conditions.
As we are this year faced with the advent of the impact of the Corona virus, many businesses – particularly SMEs – are focussed on surviving, knowing they'll have tax losses (In fact, tax loss utilisation will be an enduring topic of interest because of COVID-19).
When Yvette Coppersmith was fifteen she visited her first Archibald Prize exhibition. “I looked at them all,” she comments “and remember standing there wondering how the artists painted them”.
Covid 19 and it was March the 16th. The MSO was playing Scheherazade to an empty Hamer Hall while the box office team was busy refunding tickets. The hall was eerily quiet after the final notes - where was the eager first clap to start the applause? Someone had to know the music was finished.
Yvonne Audette, Member of the Order of Australia (AM) for significant service to the visual arts as an abstract painter whose work is in public collections including several galleries and museums.
Mid June 2020 in the UK Shaun Tan was awarded the Kate Greenaway Medal for illustrated children’s books for ‘Tales from the Inner City’. See https://carnegiegreenaway.org.uk/tag/2020/
Lowensteins Arts Management people working from home.
Around this time of year many people are thinking about putting a little more money into superannuation to get an additional tax deduction for the tax year.
There is a requirement to continue to report monthly turnover for the purposes of maintaining the eligibility to receive the JobKeeper payments.
It is with some sense of satisfaction that the Government is appearing to be moving in the right direction with the announcement that the Prime Minister, himself will be taking charge of providing support to the Arts and Entertainment industry.
Over the past few days, there have been some more ATO releases around issues of timing, eligibility and other practical problems revolving around the JobKeeper program.
Now that you have enrolled in the JobKeeper program by completing the requirements of Step 1- Enrol, there is another hurdle to jump that actually facilitates the release of funds to you.
Over the past few days, there have been some clarification on issues of timing, eligibility and other practical problems revolving around the Cash Boost for Employers and the JobKeeper program.
The ATO has further clarified the process of how you (employer) can enrol and apply for the JobKeeper payments.
Finally, as the horrific summer 2019/20 season of bushfires comes to an end, with the benefit of hindsight we are able to observe the aftermath of the disaster that has befallen our nation.
After doing some reading over the holiday period, I discovered a report “Giving Attitude” by Creative Partnerships Australia - formerly Australian Business Arts Foundation (ABAF) - the government agency that is involved in arts philanthropy.
All forms of the arts have been dealt a savage blow with the advent of the Coronavirus.
Ping. Another email, another announcement; the cancellation of an exhibition, the closure of a gallery, a musical, a festival, the next six productions of a major state theatre company, the postponement of an international biennale, the cancellation of a major tour. We are in lockdown.
In this series of legal-themed articles, art lawyer and founder of Guest Work Agency, Alana Kushnir, shares useful tips on contracts which regularly arise in the art industry.