Last Chance: Claim Your Artwork Purchase as a Tax Deduction
The 2025 Federal Budget has confirmed the end of a major tax perk for eligible small businesses: the ability to instantly write off artwork purchases up to $20,000. First introduced in 2015 as part of the Small Business Measures legislation, this opportunity will officially wrap up on 30 June 2025.
That means there’s still time to take advantage of the Instant Asset Write-off — continue reading to find out more and shop Art for the Office to take advantage of this limited-time offer.
Offices, receptions, boardrooms – they all count! Pictured here is a landscape triptych by Wayne Smith.
How Tax Deduction on Artworks Works
The Australian Government states that small businesses with an annual turnover of less than $10 million can immediately deduct eligible assets costing less than $20,000 until 30 June 2025. In short, if your business qualifies, you can claim the full cost of eligible artwork purchases (up to $20,000) as a deduction straight away.
Read more at ATO.gov.au.
This abstract by Dinah Wakefield is the perfect piece for a shared space
Is My Business Eligible for the Tax Deduction?
Small to medium-sized businesses with an aggregated turnover of less than $10 million qualify for the Instant Asset Write-off scheme. The ATO states that the artwork:
- It should be a tangible item
- Purchased principally for a small to medium-sized business premise
- Capable of being moved
- Should not be considered trading stock
Unfortunately, NFTs (non-fungible tokens) are ineligible for this tax deduction.
This photograph by Tim Allen was part of a recent commercial trade project.
Sounds good! So now what?
Before you start shopping, make sure you check your eligibility with your accountant — and don’t leave it too late. All artwork purchases must be made and installed by 30 June 2025 to qualify.
Start your search for the perfect office art today. Browse our curated collection of Art for the Office, or contact our friendly team of advisors for free art advice and customised curations to suit your office’s decor and budget.
It’s time to say goodbye to bare, uninspiring office walls! Bluethumb takes care of framing and delivery – talk about stress-free!
Disclaimer: The information provided above is general in nature and does not constitute professional financial advice. Bluethumb recommends consulting a qualified financial advisor or accountant to confirm your eligibility and ensure this advice is right for your individual circumstances.
Where can one buy works by Michelle Purves?
Does anyone know?
Love those emotional dream enhancing cloudscapes.
Thank you
Hi folks,
I run the Harbour Arts Guide in Coffs Harbour NSW which promotes the local arts scene in this region. I would love to run as a story the article you have about office art as a tax deduction. Would this be possible? I would fully credit Bluethumb as the author.
Thanks and I look forward to your response
Kind regards
Ben Eckersley
I wanted to buy one of you artwork for my home office as an employee but I’m not sure if I will be able to claim it. Can you confirm with me whether this will be classified as a home office deduction and where I can read up on it on the ATO. Thank you!