I originally posted this on my website "news" page, but thought that it might fit here.
This is Great News for Australian Artists and their beneficiaries!
The resale royalty scheme entitles artists and their beneficiaries to a 5% royalty on certain resales of their works.
The Australian government has appointed Copyright Agency Limited (CAL) to manage the scheme. CAL is a non-profit company that has been managing rights for authors, artists, publishers and others for more than 20 years.
About the artists resale royalty scheme
Key features of the scheme:
-it applies to resales of existing as well as new works;
-it applies to a range of original artworks, included -limited edition prints authorised by the artist;
-it does not apply to a private sale from one individual to another;
-a royalty is not payable on the first change of hands after 9 June, but all resales must be reported;
-a royalty is not payable on resales for under $1,000;
-the scheme will be extended to artworks from countries that have similar schemes.
To participate in the resale royalty scheme and be able to receive royalties, artists (or their beneficiaries) also need to register. Registration for artists or beneficiaries is important, because it ensures CAL can contact you to advise when a resale of your work entitles you to receive a royalty.
You can register here