Dear All,
A motion moved by The Greens Arts Spokesperson, Christine Milne, in response to your emails and letters over the last week, passed the Senate today. It read as follows.
The Senate:
(a) Notes:
(i) That the Cooper Review into superannuation last year recommended that private investment in art no longer be eligible investments for DIY superannuation schemes;
(ii) That, after a strong campaign by artists concerned that the local art market would be seriously damaged by this move, the government promised during the 2010 election campaign to reject that recommendation; and
(b) Calls on the government to:
(i) Abide by its election promise; and
(ii) Ensure that any conditions do not act as a disincentive for DIY superannuation funds to invest in Australian art.
This is a significant development for the Save Super Art campaign. Tom Lowenstein and The Australian Artists Association will now make formal submission to The Treasury and will seek discussions with the Minister for Superannuation, Bill Shorten to bring finality to the campaign commenced against the Cooper Review last year.
Thank you for making the voice of the Australian arts industry heard.
Regards
Michael Fox
