APRA AMCOS Reveals EY Study on Live Music Investment and Tax Offsets in Australia

EY Investigates How Tax Offsets can Stimulate the Australian Economy

Australasian Performing Rights Association Limited and Australasian Mechanical Copyright Owners Society (APRA AMCOS), the Australia Council, Phonographic Performance Company of Australia Limited (PPCA), the Australian Hotels Association and the Restaurant & Catering Industry Association released an extensive study conducted by EY. The study titled “Investment Initiative to Cultivate the Australian Contemporary Music Industry” examines investments in contemporary music industry in Australia, tax offsets and the potential economic impact of this form of tax incentives. The new research reinforces a prior 2012 EY report titled “The Economic Contribution of the Venue-based Live Music Industry”.

A variety of tax offsets were developed to examine the potential effects of each on venues, sound recording owners and artists. The tax offsets examined a cash offset, a percentage of expenses offset and a combined cash and percentage of expenses offset. In general, the majority of venues indicated that a tax offset would help increase the number of live music performances for those currently hosting performances while also encouraging those not currently hosting performances to start including live music in their venues. Sound recording owners were open to a tax offset, especially as it could encourage them to hire additional staff, increase investment or sign new artists.

For more research and the economic, cultural, social and regional benefits that were presented, the full report can be viewed here.