Small Business Tax Deduction | Art in the Office

Published on 14 Jun 2017 3:33:00 PM

Displaying artwork in the office can increase employee efficiency, productivity, and creativity. Well placed art can create a stylish work space for employees and clients.

Under the small business tax allowance buying art to be displayed in your business can be a 100% tax deduction immediately claimed at the end of this financial year.

If you have a small business this a great time to improve your work environment with art. 

How does it work?
Under ATO rulings artworks can be claimed as depreciable assets and provided the art works are used or displayed in business premises then those artworks may be depreciated.

Small businesses with an aggregated annual turnover of less than $10 million per year can obtain a 100% deduction under the instant asset threshold for assets used and installed until 30 June 2018, where the cost of the asset is less than $20,000.

Rather than having a bare, clean working environment enhancing a space by adding visual art can make people feel much happier and work better.

There is no limit on the number of artworks that may be purchased and depreciated at 100%. Several works by different artists or several works of the same artist might be purchased.

The limit of less than $20,000 applies to each artwork and not to the total number of artworks purchased.

Note: The incentive does not apply to individuals, trusts or companies which do not carry on business.

Art in the Office

Art affects the atmosphere of a room - a piece of artwork can add personality to a space in or around the office

Art inspires and unlocks creative potential -  The inspiration a person feels when looking at art unlocks creative potential, helping to generate innovative ideas.

Art improves employee experiences - giving employees something beautiful to look at where they spend most their day can make a huge difference in employee satisfaction, productivity, and wellbeing.  

Art helps connect with clients -  hanging art in the office or the reception area can make a client feel comfortable and even connect with them on an emotional level.

Corporate Art


Art is a fantastic and instantaneous way to improve your space and create a stylish work space for employees and clients.

Mitchell Fine Art offers a diverse range of Australian contemporary and Indigenous artworks including paintings, limited edition etchings and drawings.

Our gallery team are available to provide advice and assistance for the purchase of artworks for your office space, reception or boardroom.

The $20,000 limit is the maximum tax deduction for any single purchase but you can make as many purchases up to that amount as you like

Mitchell Fine Art are available to provide advice and assistance for the purchase of artworks for your office boardroom, reception area and employee work spaces.

With an extensive inventory of high-quality artworks and the business' long term expertise in the art world our team is dedicated to providing a quality experience.

We can provide onsite advice for your specific space needs and also assist with framing, transportation and hanging requirements.

To discuss this further, please contact Mitchell Fine Art on (07) 3254 2297 or email admin@mitchellfineartgallery.com

 

'Black Dress' an exhibition of new works by Geoff Todd in a one day only exhibition in Newrybar, NSW.

David Hayes solo exhibition 'Trajectory' opens Friday 3rd November in Fortitude Valley. 

 Congratulations to Margaret Loy Pula for winning the 2017 Tattersall's Art Prize in Brisbane.