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26 Nov 09 Resale Royalty Right for Visual Artists Bill 2009 awaits Royal Assent

On 26 November 2009, the Senate passed Tax Laws Amendment (Resale Royalty Right for Visual Artists) Bill 2009 without amendment.

The Bill amends the ITAA 1997, Income Tax (Transitional Provisions) Act 1997 and Taxation Administration Act 1953 to provide that the resale royalty collecting society is not taxed on amounts it collects on behalf of resale royalty right owners.

The Bill now awaits Royal Assent.


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