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The Taxation of Art and Collectables

Published on 22 Aug 2019 | Took place at Leonda By The Yarra, Hawthorn, VIC

This event explored art and other collectables from an investment perspective and included:

  • an overview of the art market
  • the characterisation of art and collectables for tax purposes
  • art and collectables acquisition tax structuring issues (including SMSFs, trusts, individuals, businesses, instant asset write-off)
  • tax issues upon disposal (CGT/revenue / trading stock / special rules for collectables/GST)
  • practical tips to consider when gifting art to an organisation registered on the register of cultural organisations.

Individual sessions

The taxation of art and collectables

Author(s):  Evan Lowenstein,  Alana Kushnir

This paper covers:

  • the art and collectables market(s)
  • trading stock versus collectables
  • Entity structures for acquiring and disposing of art
  • GST implications for acquiring and disposing of art
  • gifting art and cultural objects.
Materials from this session: