End Of Financial Year
As the End of the Financial Year (EOFY 24/25) approaches, we thought it would be helpful to consider a unique opportunity to invest in art, enhance your business environment and maximise your tax benefits.
Under the Instant Asset Write-Off Scheme, small businesses can claim an immediate tax deduction for the full cost of eligible assets, including artworks. The current limit is set for assets costing less than $20,000 but as of the 30th of June 2025, is set to decrease down to $1,000! Therefore, this is a time-sensitive opportunity.
Having artwork displayed at your business premises is an excellent way to showcase company ethos, enhance staff and client morale, whilst adding intrigue to a space.
We’ve selected a few artists below that we think would be perfect for elevating business spaces; however, all of our artists will be able to accomodate for specific business needs. Please don’t hesitate to get in contact and we will help find the right piece for you.
Instant Asset Write-off Eligibility Requirements:
- Your business must have an annual turnover of less than $10 million
The artwork must:
- Be tangible and movable
- Be purchased with the primary purpose of display in a business premise
- Be a fixed asset to your business (not trading stock)
Note: This information is intended as a general guide for purchasing artwork only and does not constitute financial advice. For advice tailored to your individual circumstances, please consult a qualified accountant or tax professional.
SAVE THE DATE
Postcards From Peggy Zephyr
PEGGY ZEPHYR
