21 November 2009
Di West is the latest Featured Artist for the artHIVESupdate. You can see more images online to get a small insight into Di's studio and practice.
Stay tuned to future artHIVESupdates to see more artists studios and work sites.
Botanica opens Thursday 3 December (6.30 to 9pm) and continues to Sunday 6 December at the Queensland Herbarium (Brisbane Botanic Gardens Mt.Coot-tha, Toowong, Q).
Kay Ellis’s collage - Beautiful on the Inside - on the Mural of Survivorship website is part of a national art competition which celebrates breast cancer survivorship. During Breast Cancer Awareness month, the Westmead Breast Cancer Institute and Novartis Oncology developed the competition to encourage people to share their experiences of breast cancer with an artwork and a personal story. Show your support by voting for your favourite artwork or story on the website.
Gerry and Ann O’Connor, of The O’Connor Studio, Mt Glorious, are in several Christmas exhibitions. Time to Shine opens on Friday 13 November (6pm) at the Pine Rivers Art Gallery (199 Gympie Road, Strathpine, Q) until Christmas.
Then Six Mountain Artists opens on Saturday 21 November at the Mt Glorious Restaurant and Cafe (1816 Mt Glorious Road, Mt Glorious, Q. Ph: 07 3289 0145) where you can meet the artists on the day.
Ann O’Connor is also part of a mixed exhibition - The Gallery Precinct Show - which opens on Saturday 5 December (4-8pm) at Kiln Gallery (150 Enoggera Terrace, Paddington, Q. Ph: 07 3876 6903) and runs to 20 December.
A collection of gouache sketches and oil paintings by Adrienne Williams is now showing at Doggett Street Studio (85 Doggett St, Newstead, Q) which continues to 28 November. This series of landscapes is based on sketching trips to three different sites: Blue Lake at Stradbroke Island, the heathlands at Peregian Beach, and Harry’s Hut on the Upper Noosa River. And it continues Adrienne's mild obsession with reeds.
Kym Barrett's mixed media spiritual works are included in 2 group shows at Martin Galleries (4 Aspinall Street, Nundah Village, Q. Ph: 07 3266 8450). First up is Marks In Time which is on until 24 November, and then, there’s Landscape - Infinity in 2D which opens on Friday 27 November and will run for the month of December.
Mollie Bosworth won two awards for her ceramics last month with the Now Office Award for use of innovative technology at the Townsville Ceramic Awards, and also the Ceramics Award in the Innisfail Biennale Art Exhibition.
Mollie’s work was also selected for Cherish 2009 at Artisan (381 Brunswick Street, Fortitude Valley, Q), their annual Christmas retail showcase where you can see her bowls and wearable art in porcelain with laser print decals. The exhibition opens on 12 November (6pm) and continues until Christmas.
Danielle O'Brien's long awaited new oil painting - September - is currently on show at KiLN Gallery (150 Enoggera Tce Paddington, Q) at a group exhibition with Ai Shah and Pendragon. This epic 1.2 x 1.5m work on canvas has taken 10 months to complete and celebrates the artist’s first year of motherhood. The exhibition continues to 29 November.
After returning from a wonderful residency in Iceland, Megan Jones was invited to exhibit two of her Iceland drawings in an exhibition at Nolan on Lovel gallery, Katoomba.
Megan also has a solo exhibition - Emotional Atoms - opening on 1 December (6pm) at Crossbay Gallery (Suite 1, 1A Elizabeth Bay Road, Elizabeth Bay, NSW. Ph: 02 9361-5759).
After taking out the Local Artist Award and receiving a Highly Commended at the Warwick Art Prize 2009, John Weeronga Bartoo has made the final of the Stan and Maureen Duke Gold Coast Art Prize 2009.
Celebrate the International Year of Natural Fibre by joining natural fibre papermaking, paper casting and weaving workshops with Lesa Hepburn and guest artist Adrienne Kneebone at the Redcliffe Botanic Gardens in November and December 2009. You can find all the details in News & Text.
Des Rolph has recently joined the stable of The Red Hill Gallery in Brisbane. A selection of works are now available for viewing.
Lola McFarlane's artwork is being seen and sold in all manner of places. Recently a favourite work (Reclining Nude painted by Lola in 2000) was sold at the Women's Legal Service Art Auction and the commission donated to a good cause. In the lead up to Christmas, there will be portfolios with original works on paper for sale.
12 November 2009
"A business that purchases assets on which depreciation is claimed may be in a position to take advantage of the Business Tax Break, which is a tax deduction that can be claimed over and above the regular claim for depreciation or decline-in-value. So, who, what and when?
To be able to claim the extra deduction, you have to be in business and able to claim a tax deduction for depreciation, whether as a sole trader, partnership, company, trust etc. Obviously it will have no relevance then, for an Income Tax Exempt Charity, or for someone earning income from wages only.
If, then, you are in business, the next question is one of timing and turnover:
Up to 30 June 2009 –
If your turnover is below $2000000 you will need to have bought or ordered an asset between 13 December 2008 and 31 December 2009, and the asset, bought or at least ordered by that date, must be in your possession and ready for use by 31 December 2010. If you meet these deadlines you will be entitled to the extra 50% deduction.
If your turnover is over $2000000 you must have bought or ordered the asset by 30 June 2009 and have the asset ready for use by 30 June 2010 in order to qualify for an extra 30% deduction. If the asset cannot be installed/ready for use by 30 June 2010 you will get an extra 10% deduction if the asset is installed/ready for use by 31 December 2010.
Between 1 July 2009 and 31 December 2009 –
If your turnover is below $2000000 – as above
If your turnover is over $2000000 you will be entitled to an extra 10% deduction as long as the asset is bought or ordered before 31 December 2009 and installed/ready for use by 31 December 2010.
So how much do you need to spend?
For small businesses (under $2000000 turnover) the minimum spend is $1000, for large businesses the spend is $10000.
And on what?
Well, the asset must be new; for example, a demonstrator car is not “new” – so you have to be, in one sense, the first user of the asset. As noted, it must be a depreciable asset, and that includes production and office equipment, office furniture, and so on (but excludes computer software).
So where do works of art fit into this?
Works of Art are listed in the ATO’s Effective Life Tables (which confirms their status as a “depreciable asset”) and so they also qualify for the tax break, providing the cost is at least $1000/$10000. This would include, for example, a suite of prints, where, individually, the cost might be, say $500, but as a suite of 10 the cost would be over the threshold (for a small business anyway). For small businesses, and where the effective life, on which the depreciation rate is calculated, is 100 years (with a resulting prime cost depreciation rate of 1%) this does mean that works of art are attractive in a tax, as well as aesthetic, sense.
To qualify, the work would have to have been acquired from either the artist or from a dealer or gallery selling the work on behalf of the artist, or, in the case of Aboriginal and Torres Strait Islander artists, the Art Centre representing the artist. The cost of the artwork would also include any associated costs of stretching or framing. Works bought on the secondary market would not necessarily qualify as new assets. It would also mean that you couldn’t sell works that you owned personally, to your business.
Because the asset has to be used in the carrying on of a business, artworks purchased for investment only, including superannuation funds, would not qualify
There has been a suggestion that, to qualify for the tax break, the work must have been created by a professional artist who is registered with an Australian Business Number. As this would clearly affect Aboriginal artists who may not have an ABN, and are regarded as the seller of the work, we have sought further clarification from the Australian Tax Office on this matter to ensure that such artists are not excluded from the definition of “professional artist”.
How does it work?
You claim the tax break as a further deduction when lodging your tax return; if the tax break creates a loss in the business, then that loss gets carried forward.
If you finance the purchase, that’s okay as long as you are actually the owner of the asset, and not the financing entity.
If you are registered for GST it is the GST exclusive cost that is relevant.
The work must be used substantially in your business, that is, not sometimes at home, sometimes in the office.
If the work is later sold, unlike depreciation, there is no “claw-back” of deductions previously claimed. "
Brian Tucker CPA www.briantuckercpa.org