Can Australian Music Survive in the Age of Spotify?
Greens launch plan for Live Performance Tax Offsets for touring artists, live performance venues and theatre productions
On the back of the music industry’s call to secure the future of Australian music, the Greens have today announced our plan to provide critical tax relief for live performance venues, boosting Australia’s arts sector and supporting emerging artists.
Following the pressures created by the COVID-19 pandemic, and the current cost of living crisis, we have seen huge declines in live music venues and a 70% decline in venue-based live music, yet the industry remains under-funded and ignored by the government of the day.
The Greens plan for ‘Live Performance Tax Offsets’ will reduce upfront costs for venues, touring artists and production – providing an incentive for venues to host local talent and a platform for the future of Australian art.
Industry modelling shows that the tax offsets are expected to drive an 18% increase in live performances in the first year and a 35% ongoing increase.
The policy has been costed by the Parliamentary Budget Office and would see $700 million invested in live performance over the forward estimates.
Key policy points:
- Live music venues – 10 per cent tax offsets for the costs of hosting live music
- Touring artists – 50 per cent tax offset for travel expenses
- Theatre productions – 40 per cent tax offset for the costs of live theatre production (similar to screen producer offset)
