Rockhampton Art Gallery is part of the Australian Government’s Cultural Gifts Program. This program encourages Australians to donate items of cultural significance from private collections to public art galleries, museums, libraries and archives.
If you are the owner of an artwork that you think might find its place in Rockhampton Art Gallery collection contact us. We will consider it in line with our Collection Policy and let you know if we think that it has a place at Rockhampton Art Gallery.
Australian Government’s Cultural Gifts Program
The Australian Government’s Cultural Gifts Program encourages gifts of significant cultural items to public art galleries, museums and libraries by offering donors a tax deduction for the market value of their gifts, under Subdivision 30-A of the Income Tax Assessment Act 1997 (the Act).
The Department of Communications, Information Technology and the Arts administers the program with the advice of the Committee on Taxation Incentives for the Arts. The Committee advises the Secretary to the Department on the approval of valuers to participate in the program and examines donations to ensure they conform with the program’s requirements. Donations made under the program are exempt from capital gains tax and the tax deduction may be spread over a period of up to five years.
Tax incentives for giving
As a donor, you will be eligible for the following tax incentives under the program:
- The market value of the gift is fully tax deductible, with some exceptions.
- You can elect to spread the deduction over up to 5 income years.Gifts are exempt from capital gains tax.
- You may also claim a tax deduction for the cost of valuations that are obtained specifically for this program.
Please note: gifts bequeathed under a Will or made by executors of deceased estates are not tax deductible and do not qualify for the program.
For further information about the Cultural Gifts Program, please contact:
Rockhampton Art Gallery
(07) 4936 8248