Bequests and Gifts
Many of the wonderful works of art in the Art Gallery of
Ballarat have been purchased with gifts nominated in wills or with
the income generated over time by soundly invested bequest funds. A
bequest can be your way of ensuring your continued support Art
Gallery of Ballarat well beyond your own lifetime.
There are many ways that you can arrange your bequest. You can
leave a general bequest or nominate a specific purpose. You can
nominate a dollar amount or a share of your estate.
Your legal advisor will be able to advise you about the best
bequest structure for you.
The Cultural Gifts Program
The Australian Government's Cultural Gifts Program encourages
gifts of significant cultural items to public art galleries,
museums and libraries by offering donors a tax deduction for the
market value of their gifts, under Subdivision 30-A of the Income
Tax Assessment Act 1997 (the Act).
The Department of Communications, Information Technology and the
Arts administers the program with the advice of the Committee on
Taxation Incentives for the Arts. The Committee advises the
Secretary to the Department on the approval of valuers to
participate in the program and examines donations to ensure they
conform with the program's requirements. Donations made under the
program are exempt from capital gains tax and the tax deduction may
be spread over a period of up to five years.
For more information please contact Gallery Director, Gordon
Morrison email: email@example.com