Government funded support for the arts is as important today as it was 30 years ago. The Commonwealth Government is committed to a vibrant cultural life for all Australians, providing around $400 million a year towards arts and cultural funding.
Now we've taken the next step and introduced more incentives for individuals and business to donate to Australia's cultural sector.
These include providing tax deductibility for gifts of assets worth more than $5 000, exempting capital gains tax on bequeathed gifts and altering the capital gains tax treatment of donated cultural assets. You'll find all the details in making cents.
These incentives, which come into effect from 1 July, will help meet the challenge of encouraging more business sponsorship of the arts.
A recent Australian Bureau of Statistics survey of business sponsorship found that in 1996Ã97, businesses spent $29.2 million on arts and cultural events compared to $282 million on sporting activities.
The Government will continue working to develop partnerships between government, business and the arts community, which are so vital to promoting, nourishing and fostering the arts in Australia.
The Australian Foundation for Culture and the Humanities is demonstrating to businesses the value of investing in the arts and entering into sponsorships and partnerships with arts bodies. As well as assisting business to support arts and culture in ways that benefit all parties, the Foundation provides training and skills development to facilitate such creative business/cultural partnerships.
Philanthropic activity, so prevalent in the United States, also needs to be encouraged in Australia.
An outstanding example was the recent opening of the Arthur and Yvonne Boyd Educational Centre, at Riversdale in New South Wales. The Boyds' vision in giving the magnificent Bundanon homestead (including Riversdale) and art collection to the nation was enhanced by a generous donation from Fred and Dorothy Street towards construction of the Education Centre.
This spirit of support for the arts was also evident at the National Portrait Gallery in Canberra's Old Parliament House. In March, the Prime Minister opened the impressive permanent collection, made up of acquired and donated works. The Gallery has also successfully attracted a number of sponsors.
Clearly by encouraging participation in the arts for all Australians, we see the benefits cascade through the economy - in employment, export dollars, tourism, and goods and services.
I look forward to working with you to continue to develop and shape our unique cultural sector over the coming months.
Peter McGauran
Minister for the Arts and the Centenary of Federation
Print this page