As a result of a new UK-Australia Free Trade Agreement (FTA), UK artists will now be able to claim resale royalties when their art is resold in the Australian professional art market.
Previously, UK artists have not received any royalties when their artwork was resold in Australia. However, under the new legislation, UK artists are now entitled to resale royalties in line with the Australian system. This is currently 5% of the sale price of artworks that are sold commercially for AUS$1,000 or more.
Many UK artists rely on the Artist’s Resale Right (ARR) for an income stream. So, this opportunity for new royalties is very welcome news.
See: https://www.gov.uk/government/news/uk-artists-on-course-for-royalty-windfall-down-under
