Advocacy, advice and professional practice resources for the Australian visual arts, craft and design sector
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Artists' Income Tax Non-Commercial Losses
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Artists' Income Tax Non-Commercial Losses
Under this tax law, some professional artists are prevented from claiming their art practice expenses because they do not meet the exemption criteria (eg they earn more than $40,000 from their non-arts income). NAVA’s asserts that artists should be exempted on the grounds that since 2005 the Taxation Ruling: Income tax: carrying on business as a professional artist (TR 2005/1) now provides a more precise instrument for achieving the government’s objectives of distinguishing between professional artists and hobbyists for income tax purposes. Currently the Act discriminated unfairly against an estimated 15 – 20% of artists. NAVA continues to campaign for this change.
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