Spending $30k in your business that's actually fun!
Artwork inspires your employees and greatly enhances the work environment. It says something about your business and culture. Best of all it's a great way to support emerging or established artists and get a great tax deduction!
The Australian Tax Office has extended and increased the threshold from 10-50 million, so if you are buying art for your office (up to the value of $30 000) you can claim a tax deduction for it. This allows for an immediate tax write-off, making buying art a very attractive purchase for a business.
Small to medium size businesses with a turnover of less than $50 million are now eligible for the instant asset write-off. This applies to assets purchased and first used or installed ready for use up to $30,000 each from 7.30 pm on 2 April 2019 to 30 June 2020.
Little Bowerbird Interiors can help you source original works from the various galleries that we work with. Many of the artworks are from emerging artists that have gone on to being well recognised including several Archibald finalists.
Here is a small sample of the artists we are currently loving from Anthea Polson Art Gallery, Edwina Corlette Gallery and Green House Interiors. But we have lots of artists we work with and would love to help you decide not only what would suit your space but become a great investment piece. Some of these are available if you'd like!
There are several ways you can finance your art for example through Art Money (which is interest free) and then selling to your business. Some galleries also offer a lay-by service. There are also some ways in which you can buy through your family trust and have your trust sell it to your business. Please make sure you check with your accountant first, this is not official advice!
Art can be a great investment for both your business and your well being, creating a beautiful environment to work in. Not only can we help you with selecting artworks but also with refreshing a tired lobby or waiting room. You can send us a message here to have a chat about what we can do for you.
Joc x Principal designer/director