As we turn our attention to the summer holidays and 2019 swiftly flows away into the pages of history, it is useful to reflect on the past business year.
As we approach the May 2019 election date, it is timely to ask ourselves, as advocates for the arts, ‘What does the next Government hold for arts policy in Australia?'
In the previous edition of Lowensteins' Newsletter, we advocated a radical need to reform the tax system as it affects Australian artists. We have had positive feedback about this suggested reform from several clients in the arts community.
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.
Once again I had the privilege of travelling to Hong Kong for the sixth iteration of ART Basel, held from the 27 to 31 March 2018.
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),
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.
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.
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’.
After not attending the fair for two years it was a great pleasure to be able to travel to the Art Basel Hong Kong Art Fair that covered a whole week of events from the 21 to 25 March 2017 at the Hong Kong Exhibition Centre.