The Cultural Gifts Program (the program) encourages gifts of culturally significant items to public art galleries, museums and libraries by offering donors a tax deduction for the market value of their gifts. Gifts made under the program are exempt from capital gains tax and the tax deduction may be spread over a period of up to five years.
The Department of the Environment, Water, Heritage and the Arts (DEWHA) administers the program with advice from the Committee on Taxation Incentives for the Arts. The committee advises the Secretary to the Department on the approval of valuers to participate in the program and examines donations to make sure they conform with the program’s requirements.
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