Artwork tax deductible before June 30
- 29 May 2024
Art for your home office 100% tax deductible before 30 June.
As the end of 2023 financial year approaches, there has never been a better time to update your office or creative space with art!
Did you know that purchasing artwork for your business, including home offices is 100% tax deductible.
What does this mean?
If you purchase a piece of art and it's displayed in your business premises, that artwork can be depreciated at 100% of the cost. Not only can you claim the depreciation of the art you can deduct the full amount this year.
Nothing completes an office space better than a beautiful piece of artwork, shop our range here.
Businesses with a turnover of less than $10 million can deduct 100% of the business use portion of eligible assets, which can include artwork for your business up to $20,000.
It’s a win for both the artist and business owners!
Look, all we see here is.... run, don't walk for some new art, of course we always suggest seeking your own professional advice first.
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Shop The Block Shop's extrensive art range here.