As the end of the financial year approaches, it's the perfect time to enhance your workspace with striking art while benefiting from tax deductions. Under the Australian Government's Instant Asset Write-Off scheme, eligible small businesses can immediately deduct the full cost of assets, including artwork, costing less than $20,000 until 30 June 2025.
Is Your Business Eligible?
If your business has an annual turnover of less than $10 million, you qualify for the Instant Asset Write-Off. This means you can claim the full cost of eligible artwork purchases (up to $20,000) as a deduction straight away.
What Artwork Qualifies?
To ensure your art purchase is deductible:
- Tangible: The artwork must be a physical item.
- Business Use: It should be purchased principally for a business premise.
- Movable: The artwork should be capable of being moved.
Why Choose Alicia Bourley Art?
Alicia Bourley's creations are more than just decorations; they are statements of boldness, femininity, and unapologetic expression. Incorporating her art into your workspace can:
- Elevate Aesthetics: Transform your office into an inspiring environment.
- Reflect Brand Identity: Showcase your business's commitment to creativity and individuality.
- Support Local Artistry: Invest in Australian art and support local Australian artists.
Don't Miss Out
The opportunity to claim artwork purchases as an immediate tax deduction under the Instant Asset Write-Off scheme concludes on 30 June 2025 . Ensure your purchases are made and installed by this date to take advantage of the deduction.
*Disclaimer: This information is general in nature and does not constitute financial advice. Please consult with a qualified accountant or tax professional to assess your specific circumstances.