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Thursday, 17 February 2000
Page: 13894

Mr Kerr asked the Treasurer, upon notice, on 9 December 1999:

Are artists entitled to offset the costs of their art practice against other income for income tax purposes; if so, will the implementation of the Ralph report continue this entitlement; if not, what test or tests will the Government apply to determine the eligibility of artists to offset such costs?

Mr Costello (Treasurer) —The answer to the honourable member's question is as follows:

Taxpayers who carry on business as artists are able to offset losses made in the course of carrying on that business as an artist against other income.

The implementation of the Ralph Report will continue this entitlement provided the taxpayer is carrying on business as an artist and satisfies at least one of five tests, which are listed in Attachment A to my Press Release of 11 November 1999.