Whether you are collecting art for the love of it or for investment, you need to be aware of important legislative and tax implications. You can collect art as an individual or through a company, trust or self managed super fund. Investing in art is like any other investment, it has the opportunity for high returns but not without risks. While a sound knowledge of the art scene can help you become a successful investor it won’t be enough on its own.
The issues to consider when investing in art are similar to any other asset:
• What is the most suitable “structure” for investments?
• What are the tax implications of any “structure” for you and your estate?
• How do you minimise tax and maximize your return?
• Is a self managed super fund a logical and effective option for your investments and estate planning objectives?
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