Art of Tax Reform Summit to deliver recommendations for next National Cultural Policy

The Art of Tax Reform Summit, to be held at the Sydney Opera House on 26th September will produce recommendations for the next National Cultural Policy, due in 2028.

The Summit will bring together economics and tax policy experts as well as artists, donors, venue operators and other participants in the arts and culture fields to propose creative ways of helping the industry flourish.

More enterprises contributing to Australia's $122.3 billion creative industry are based in NSW than anywhere else.

But many leading organisations struggle to remain competitive in a rapidly changing world, and artists and arts workers face the challenge of unpredictable incomes.

Creative Australia's Artists as Workers report last year found a typical professional artist's gross income was $54,500, including $16,000 from non-arts sources. The report noted this compared poorly to the incomes of similarly skilled and qualified workers in the 2021 census such as "managers" at $107,400 and "professionals" at $98,700.

The summit will look for ways to address the industry's many hurdles through tax reform. Some ideas already on the table include:

• Live Performance Australia's Live Theatre Tax Offset, which would prioritise investment in new work over the fixed costs of running a theatre.

• Tax rebates for live music - a proposal by the music rights management organisation APRA AMCOS intended to support venues.

• A review of prize money tax settings proposed by the National Association for the Visual Arts, addressing the fact that winners of government funded arts prizes must pay tax on that prize money.

The NSW Government is inviting submissions for the Summit, following an investment of nearly $1.4 billion into the arts and creative industries in last month's Budget, including:

• $844.4 million for Cultural Institutions

• $280 million for the Post, Digital and Visual Effects (PDV) and Digital Games Rebate programs

• $100 million to begin the hunt for the second film studio for Sydney

• $27 million to strengthen the contemporary music industry through Sound NSW's work

• $27.4 million for the 24-Hour Economy

• $73 million for the Arts and Cultural Funding Program package as announced in 2024-25

NSW Minister for the Arts, Music and the Night-Time Economy, John Graham noted "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.

"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.

"The NSW Government will continue our strong commitment to arts funding. This year we have a NSW arts and culture budget investing nearly $1.4 billion into the creative industries, we have seen some of our biggest years in audiences across art-forms, and yet the sector is still struggling."

NSW Treasurer, Daniel Mookhey added "The creative industries are a cornerstone of Australia's cultural identity and an important contributor to the economy.

"The sector is telling us that tax policy settings are a significant impediment to artists' business viability, international competitiveness and income stability.

"That is why NSW is pleased to host this summit. It will bring our brightest creative thinkers together with tax and economic experts - to develop a set of reform initiatives to discuss with our Commonwealth colleagues."

Submissions are open until Sunday 10th August 2025 and can be made by visiting www.haveyoursay.nsw.gov.au/cultural-tax-reform

These submissions will shape the agenda of the Summit on 26 September 2025.

Image. Archibald Prize 2025. Credit: NSW Government