About the artists resale royalty scheme
The artists' resale royalty scheme started on 9 June 2010.
Under the scheme:
- commercial resales of artworks for $1,000 or more must be reported; and
- a 5% royalty is payable on some resales.
The Australian government appointed Copyright Agency to manage the scheme.
Key features of the scheme:
- it applies to resales of existing as well as new works;
- it applies to a range of original artworks, included limited edition prints authorised by the artist;
- it does not apply to a private sale from one individual to another;
- all resales for $1,000 or more must be reported;
- a royalty is not payable on the first change of hands after 9 June;
- a royalty is not payable on resales for under $1,000;
- the scheme will be extended to artworks from countries that have similar schemes.
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Copyright Agency Limited provides simple ways for people to reproduce, store and share words, images and other creative content, in return for fair payment. In doing so, it connects the creators, owners and users of copyright material.
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