The objectives of the
Resale Royalty Scheme are to provide visual artists with:
recognition of their ongoing rights in their art; and
b) additional income through royalties derived
from commercial resales of their art.
Under this law, Australian
visual artists and craft practitioners are entitled to five per cent of the
resale price of eligible artworks sold commercially for $1,000 or more. The right is inalienable and endures
for the life of the artist plus 70 years.
Key features of
the scheme:it applies to resales of existing as wellas new works;it applies to a range of originalartworks, including limited edition prints authorised by the artist;it does not apply to a private sale fromone individual to another;all resales for $1,000 or more must bereported. However, a royalty is not payable on resales for under $1,000;a royalty is not payable on the firstchange of hands after 9 June 2010;
It is intended
that the scheme will be extended to artworks from countries that have similar
For more information visit the Resale Royalty