Document ID: chunk:federal_register_of_legislation:C2024C00506:section:10
Version: federal_register_of_legislation:C2024C00506
Segment Type: section
Provision Reference: s 10
Character Range: 12882–13587

10  No resale royalty right unless consideration above threshold

Threshold
 (1) There is no resale royalty right on the commercial resale of an artwork for a sale price of less than:
 (a) $1,000 or, if the sale price is paid in a foreign currency, the amount worked out using the exchange rate applicable at the time of the commercial resale that is equivalent to $1,000; or
 (b) if a higher amount is prescribed by the regulations—that higher amount.

Definition of sale price
 (2) The sale price on the commercial resale of an artwork means the amount paid for the artwork by the buyer on the commercial resale including GST, but does not include any buyer's premium or other tax payable on the sale.