The Resale Royalty Right for Visual Artists Bill has been introduced into Parliament. This legislation provides a resale royalty right for Australian visual artists.
The scheme is expected to be in place by 1 July 2009. Under this right, visual artists will have a right to receive a share of sales of their artistic works on the secondary market for all works of art acquired after the legislation comes into effect over a threshold of $1000 at a rate of 5 percent.
The Bill has been referred to the Standing Committee on Climate Change, Water, Environment and the Arts for an advisory report by 20 February 2009.