The Resale Royalty Right for Visual Artists Act 2009 was assented to on 9 December 2009.

The Act establishes a statutory scheme which gives a resale royalty right for visual artists for the life of the artist plus 70 years. It will entitle visual artists to a royalty payment on the sale price of any commercial resale (“the secondary art market”) of their original works of art over $1,000 on works acquired after the legislation takes effect. The scheme will apply to Australian citizens or permanent residents, with foreign nationals covered on a reciprocal basis.

The resale royalty payable is a flat 5% of the sale price on the commercial resale of an artwork.

The scheme will start no later than 9 June 2010.

An artwork means an original work of visual art that is created either by an artist or artists or produced under the authority of the artist or artists. The term ‘visual art’ is intended to cover original graphic and plastic art, as well as other forms of original visual arts or craft, such as textiles and new media works.

It applies only to a commercial resale where the transfer of ownership of the artwork is from one person to another for monetary
consideration and is not the first transfer of ownership of the artwork.

The scheme will not include private sales between individuals, nor organisations not in the business of dealing in works of art.