'Art Of Tax Reform Summit' To Launch In September

The NSW and Victorian Governments have joined forces to launch the inaugural The Art of Tax Reform Summit this September.

Taking place at the Sydney Opera House on Friday, 26 September, policy experts and music industry professionals from Australia’s arts and culture sector will make recommendations for the next National Cultural Policy, which is scheduled for 2028.

According to a press release, the summit will aim to address the issues facing the Australian music industry through tax reform.

Some of the ideas include the launch of Live Performance Australia’s Live Theatre Tax Offset, APRA AMCOS’ proposal surrounding tax rebates for live music, and reviewing prize money tax settings, as proposed by the National Association for the Visual Arts.

NSW Minister for the Arts, Music and the Night-Time Economy, John Graham, noted that it’s “time to talk tax” and assist in developing the country’s next cultural policy.

“It is time to talk tax. In September, we are bringing tax policy experts together with leaders from across the arts, culture and creative industries, as well as philanthropy and the commercial sector, to develop a suite of tax reform initiatives to present to the Commonwealth as they develop the next national cultural policy,” Graham said.

He continued, “This will be the most unusual show the Opera House has hosted, and its impact could last generations.

“Two of the biggest levers Governments have to support the arts and creative sectors are regulatory change and funding. If tax boffins and creatives can agree on something, then our nation should take notice.”

APRA AMCOS CEO Dean Ormston applauded the launch of the summit, stating that “A live music tax offset would be a strategic investment in an industry that is worth $9 billion to the economy.”

“The Art of Tax Reform Summit represents a key moment for Australia's creative industries,” Ormston said. “I applaud the initiative of the NSW and Victorian Governments to bring together policy architects and creators who understand that cultural activity is a cornerstone of the nation's economic and social infrastructure.”

Adding that the summit offers the industry the opportunity to transform its support for artists and venues, Ormston continued, “A live music tax offset would be a strategic investment in an industry that is worth $9 billion to the economy.

“Support for live music venues and touring artists through targeted tax measures wouldn't just help inject sustainability for individual businesses, it would help revitalise town centres, cities and suburbs and supporting thousands of jobs that depend on a thriving music ecosystem.”

Ormston noted that during the COVID-19 pandemic, 1,300 live music venues closed their doors nationwide, while the number of audiences at nightclubs was halved. The live sector still hasn’t recovered, and touring costs continue to increase as punters struggle with the cost of living.

“This isn't just about supporting individual artists or venues, it's about preserving the cultural fabric of our communities,” Ormston said. “Live music venues are where social connections are made, where local identity is forged, and where the next generation of Australian artists cut their teeth. When we lose these spaces, we lose something fundamental about who we are as a nation.

“We welcome the leadership shown by the NSW and Victorian governments in championing this summit, but the Australian Government holds the key to unlocking the potential of our creative industries through meaningful tax policy changes.

“The summit in September is our opportunity to present a united front and demonstrate that the creative industries are ready to work constructively with government on practical solutions. We need tax policies that recognise the realities of creative work, the irregular income, the high upfront costs, the community benefits that extend far beyond the balance sheet.”

To make your voice heard ahead of the Art of Tax Reform Summit, visit the NSW Government’s Have Your Say platform or the Victorian Government website.