Tax rebates for art purchases

   Visitors at the preview of the S.E.A. Focus art fair on Jan 24, 2019.
Visitors at the preview of the S.E.A. Focus art fair on Jan 24, 2019.PHOTO: ST FILE

There is a need to improve the art industry here and encourage art fairs and galleries to flourish (The art of growing the market; Jan 27).

While the new S.E.A. Focus boutique art fair was a step in the right direction, a total of 26 galleries is not on a par with international standards, like in Taipei Dangdai, which features 90 galleries, or Art Basel Hong Kong, which will feature more than 200 galleries.

With the right incentives, our art tourism can take off.

While the film festival is one example, we do not have the luxury of organic growth to expand it.

A better way to grow the market is through Art SG planned for the end of the year, and encouraging corporate buyers to make purchase by making them qualify for tax rebates, similar to the charity tax concept.

This will stimulate the art market and once momentum is achieved, we will see a bustling art scene that will seep into the creative imaginations of all levels of society.

Hua Tye Swee