Category: For Artists
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How do artists from countries other than NZ benefit from resale royalties?
RRA collects royalties for artists when they make a qualifying resale in Aotearoa New Zealand, and vice versa. Currently RRA has agreements with Australia, The United Kingdom, many countries in the European Union and Uruguay. A full list of reciprocating countries can be found here: Sister societies | Resale Royalties
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Getting your resale royalties payment.
The timeline for getting your resale royalty: Why didn’t I get my royalty? What to if I still haven’t received a royalty after 6 months:
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What is the process for claiming an unpaid resale royalty?
RRA will periodically inspect and audit published auction sale results to monitor compliance with the Act and Regulations. However, because we rely on art market professionals and other stakeholders in the Scheme to notify us of resale payments that are due on qualifying resales, we may occasionally not be aware of a qualifying resale. A Right Holder who believes that…
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Who is an “eligible artist”?
Checklist 3.1 IF the artist is alive at the time the contract for resale is entered into: is the artist: If you ticked either of these boxes, then the artist is an eligible artist. Checklist 3.2 IF the artist is deceased at the time the contract for resale is entered into: at the time of their death was the artist: …
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What can an artist do if they don’t want to accept a royalty?
How to decline payment (s 19 the Act, & clause 12 the Regulations) A right holder may opt to decline to receive: They do this by giving written notice to RRA (the collection agency). This doesn’t mean they lose their resale right. It simply means they are opting to decline to receive payment of all or part of a resale…
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What is IRD tax guidance for artists?
Artists are entitled to receive a payment each time their art is resold (a resale payment). These payments may be taxable. If you are an artist who was in business when your artwork first sold, you need to pay income tax on resale payments for that art. This is because resale payments are not taxed before they are paid to…