Janne Kearney's artwork 86 (Rhyming Slang for Worth Nix) was selected as the feature artwork for the BP Art Prize exhibition catalogue. Read the London based editorial Culture Whisper's review of the exhibition here.
Janne Kearney exhibiting at London's BP Art Prize
Hannah Quinlivan interviewed by ABC radio's Louise Maher
Hannah Quinlivan interviewed by ABC local radio's Louise Maher discussing her exhibition Anatomy of a Drawing at Canberra Museum and Gallery. Listen here
TAX BREAK COUNTDOWN
Countdown to the End of the Financial Year.
There are many taxation incentives available to small businesses acquiring fine art works for use within their business premises. Small business entities (SBE) are currently defined as those with a turnover of less than $10,000,000.
These concessions include GST refunds, accelerated depreciation write-offs and interest deductibility where the fine art is financed.
Using the simplified depreciation rules, assets costing less than the relevant instant asset write-off threshold are written off in the year they are first used, or installed ready-for-use. This threshold applies to each asset irrespective of whether the asset is purchased new or second-hand.
The threshold has changed over the last few years and during the current year as shown in the table below.
Instant asset write-off thresholds
7:30pm (AEDT) 02/04/2019 to 30/06/2020
29/01/2019 to before 7.30pm (AEDT) 02/04/2019
The entire cost of the asset must be less than the instant asset write-off threshold, irrespective of any trade-in amount. Whether the threshold is GST exclusive or inclusive will depend on your GST status, for further information about GST impacts see Cost.
In working out the amount you can claim, you must subtract any private use proportion. The balance (that is the proportion used in earning assessable income) is generally the taxable purpose proportion. While only the taxable purpose proportion is deductible, the entire cost of the asset must be less than the threshold.
Note that if you later sell or dispose of an asset for which you claimed an instant asset write-off, you include the taxable purpose proportion of the amount you received for the asset in your assessable income.
Dan Lorrimer curated into touring exhibition STEEL
Dan Lorrimer has been curated into the touring exhibition, STEEL: art design architecture, curated by JamFactory’s Margaret Hancock Davis. The exhibition includes 29 artists, designers and architects from across Australia. Touring until 2020 Lorrimer’s inclusion in the ground-breaking exhibition is a career mile stone.
Melinda Schawel: Winner of the People’s Choice, Adelaide Perry Drawing Prize
The very talented Melinda Schawel has been announced as the Winner of the People’s Choice Award for the prestigious Adelaide Perry Drawing Prize with her work, Letting Go, ink and pencil on torn, perforated paper, 2016.
Caroline Rannersberger – Professional Appointments
FLG is pround to announce Caroline Ranersberger’s three year appointment to the Pool of Peers for the Australia Council. She has also been appointed as Curator of the Bruny Island Art Prize for 2018, to be held in collaboration with Kingborough Council, and as one of the founding Directors of the Bruny Island Foundation for the Arts.