Myths about reporting resales
The resale royalty scheme has now sucessfully been in operation for two years. That’s two years of working with artists and art market professionals to generate resale royalties to more than 430 artists. Thank you all for your efforts.
Over the past few months, Copyright Agency staff have been contacting all commercial galleries and art dealers in Australia, answering any remaining questions that they may have in relation to working with the scheme. We are still calling, so if you haven’t yet heard from us, please expect a phone call soon. Alternatively, you can contact Judy Grady directly on 1800 066 844.
After speaking with you, we’ve learnt that most of you are well aware of the resale royalty scheme and understand how it works. We also discovered a few misconceptions out there, so we are sharing these with you, along with details of what the resale royalty legislation actually requires.
|The misconception||What the legislation requires|
|A resale needs to be reported only if a royalty is payable
||All resales for $1000 or more (including GST) must be reported, whether or not a royalty is payable
|A resale needs to be reported only of the work was acquired by the seller for $1,000 or more
||All resales for $1000 or more (including GST) must be reported, regardless of the amount (if any) paid for the work
|A resale only needs to be reported if the work is by an Australian artist
All resales for $1000 or more (including GST) must be reported,regardless of the nationality of the artist.
While currently royalties are payable only where the artist is an Australian citizens or resident, that will change in the hear future
If you have any questions or require assistance with reporting resales, please contact Judy Grady by email or by phone on 1800 066 844.