Cooper Panel’s Hang-Up on Art Works
In his bid to ban art investments in self-managed super funds, superannuation review chief Jeremy Cooper appears to have a hang up over paintings on living room walls, rather than a serious commitment to evidence-based policy.
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The Federal Government’s Cooper Review of Superannuation has called for a ban on art investment in Self Management Super Funds (SMFS). The Cooper Review also wants SMSFs to divest all art investments within 10 years. These recommendations are extremely damaging to the Australian art industry. |
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15 Comments
1 Vic Zbar wrote:
What is more, I am concerned about the number of struggling artists who are opposed to the proposals and who are in need of greater community support.
2 Philip Morgan wrote:
Have you guys got any idea of living in the real world?
Art is essential to a nation and to nation building.
3 Nick Morris wrote:
Dear Mr Cooper, Government Ministers and Opposition Spokespeople
I support the SAVE SUPER ART campaign against the Cooper Review recommendations banning art investments in Self Managed Super Funds. The recommendations are fundamentally flawed, serve no good purpose, are already creating damaging uncertainty in the Australian art market, and, if implemented, would create disastrous “unintended consequences” for the Australian art industry.
4 Mark Sanders wrote:
I support a diversity of investment alternatives in a super portfolio.
5 Megan Dick wrote:
Dear Mr Cooper, Government Ministers and Opposition Spokespeople
I support the SAVE SUPER ART campaign against the Cooper Review recommendations banning art investments in Self Managed Super Funds. The recommendations are fundamentally flawed, serve no good purpose, are already creating damaging uncertainty in the Australian art market, and, if implemented, would create disastrous “unintended consequences” for the Australian art industry.
6 T Norton wrote:
Dear Mr Cooper, Government Ministers and Opposition Spokespeople
I support the SAVE SUPER ART campaign against the Cooper Review recommendations banning art investments in Self Managed Super Funds. The recommendations are fundamentally flawed, serve no good purpose, are already creating damaging uncertainty in the Australian art market, and, if implemented, would create disastrous “unintended consequences” for the Australian art industry.
7 Charles Beelaerts wrote:
To Julia, Jeremy, Chris, Peter, Luke, Steven and others,
I am of the view that art and other collectables should be allowable investments for SMSFs. The arrangement before Cooper came along served the financial community well. I am a Financial Consultant and author of the forthcoming book ‘The Passionate Portfolio: Investing in Art and Other Collectables’ (March 2011) and I trust that the situation will be remedied by the time the book is finished. If not I will have something to say about it in print. However, I believe that sanity will prevail and that Australia will once again demonstrate leadership in culture and the arts. PS. Save Super Art is to be commended for giving the public the opportunity to have our say.
8 Tiffany Zanatta wrote:
I have a superannuation fund which has lost money continually over the past few years. I don’t see why I can’t make decisions on my own future about how to invest MY money. Art has proven to be one of the best investments over the past years!!
9 Deidre Holland wrote:
Dear Mr Cooper, Government Ministers and Opposition Spokespeople
I support the SAVE SUPER ART campaign against the Cooper Review recommendations banning art investments in Self Managed Super Funds. The recommendations are fundamentally flawed, serve no good purpose, are already creating damaging uncertainty in the Australian art market, and, if implemented, would create disastrous “unintended consequences” for the Australian art industry.
10 Andrew Arnott wrote:
Dear Mr Cooper, Government Ministers and Opposition Spokespeople
I support the SAVE SUPER ART campaign against the Cooper Review recommendations banning art investments in Self Managed Super Funds. The recommendations are fundamentally flawed, serve no good purpose, are already creating damaging uncertainty in the Australian art market, and, if implemented, would create disastrous “unintended consequences” for the Australian art industry.
11 Prue Kirkcaldie wrote:
I fully support the campaign SAVE SUPER ART.
What is Australia coming too?
We didn’t vote Labour in to destroy our art market or cultural base. They do not have that mandate. Seems everything they touch turns sour. As Gerry Harvey said about the Super Mining Tax tactical implementation by Labour – ‘you’d have to think they are a bunch of amateurs’. Hopefully they will be out in the next election Gilliard gone that’s what I’d like to see.
Can’t happen fast enough seems they are set on impeding Australia’s progress understandable from people who have no understanding of economics. Prue
12 Susan Hunter wrote:
Dear Mr Cooper, Government Ministers and Opposition Spokespeople
I support the SAVE SUPER ART campaign against the Cooper Review recommendations banning art investments in Self Managed Super Funds. The recommendations are fundamentally flawed, serve no good purpose, are already creating damaging uncertainty in the Australian art market, and, if implemented, would create disastrous “unintended consequences” for the Australian art industry.
13 Steve Warburton wrote:
Save our Artists, save our unique Australian culture for future generations.
14 Marek Toczylowski wrote:
I agree with SAVE SUPPORT ART argument about extreme damage Super System Review recommendations can cause to Australian art industry.
I support the campaign fully.
15 mandy martin wrote:
The Cooper report is ill advised and potentially incredibly damaging to the visual arts sector which is relatively small and fragile in this country, lacking the patronage and vigor of the art market in other countries. Why decimate that economy even further with retrograde legislation like this? I personally would be devastated if my paintings were sold at fire sale prices in the next few years from super art collections particularly at at a time when we are struggling to keep above water anyway after the GFC.