Can I Claim Art as a Tax Deduction?
Yes! Let’s break it down.
Art and Tax – What You Need to Know
According to the Australian Taxation Office (ATO), artworks can be considered depreciable business assets. That means if you’re a small business owner, buying artwork for your workspace could be 100% tax deductible under the Instant Asset Write-Off program.
This initiative lets you claim the full cost of eligible business-related assets — and yes, art qualifies when used in a business environment like an office, waiting room, clinic, or showroom.
Why Choose Art for Your Business?
Besides the obvious aesthetic appeal, art offers tangible benefits to your business:
- Enhances Professionalism: Makes your space feel elevated and refined
- Boosts Morale: Builds culture and positivity among team
- Creates a Memorable Experience: Leaves a lasting impression on clients and visitors
- Supports Australian Artists: Championing local talent helps the broader creative economy
- Immediate Tax Deduction: The cherry on top — you can write it off this financial year!
Who can take advantage of this?
Small businesses with a total turnover of less than $10 million.
Can I claim more than one artwork?
Yes — and there’s no cap on the number of artworks you can claim, as long as the full cost of eligible depreciating assets is less than $20,000 (excluding GST).
Assets valued at $20,000 or more can continue to be placed into the small business simplified depreciation pool and depreciated at 15% in the first income year and 30% each income year after that.
Don’t Leave It Too Late
This incentive expires on 30 June 2025— so if you’ve been thinking about adding art to your workspace, now is the time.
Ready to invest in Your Space?
At FINEPRINTCO, we offer a carefully curated collection of artworks that qualify under the $20,000 Instant Asset Write-Off. No matter your workspace style, we're here to help you choose the ideal artworks that elevate your environment and may offer tax benefits too.
