It's Tax time
credit Bill Hope
We already know that art in the work place not only boosts morale but it can also help with productivity, creativity and also distinguish your business to your clients from others.
Have you have been pondering whether you’re lobby, office, restaurant or bar is in need of new look? The government is giving small business the reason to reimagine there work spaces.
Your business has to have a turn over under 2 million a year to be eligible under the governments 2015 budget for a tax deduction for art ***available to small business until the 30th June 2017.
To be eligible there are a few requirements that must be met in order for the art work to be considered;
- Businesses must have a turn over under 2 million
- Must be used in some way for the business
- Must be displayed / used in the business
- Art work should be tangible
- Art work must be able to be moved to another location i.e. canvas
- Art work must be created by an artist with a registered ABN
Hurry and chat with your accountant to see how this scheme will benefit you!
Contact us before July 30.