The National Cultural Heritage Account – How much funding can I request?
The Account is established under section 25 of Protection of Movable Cultural Heritage Act 1986. The Account is managed in accordance with section 21 of the Financial Management and Accountability Act 1997.
Funding assistance from the Account will normally cover only a proportion of the fair market value of the object.
The sale price of the object at a recent public auction and/or the purchase price being paid by the applicant are used to advise the Minister on the fair market value. The purchase price for an Australian protected object is determined by the owner of an Australian protected object and the recipient of the object. Where the Cultural Property Section considers it necessary and appropriate, the applicant may be asked to provide at least two independent valuations from valuers approved under the Commonwealth's Cultural Gifts Program.
An object which has been the subject of financial assistance from the Account and gifted to an appropriate cultural organisation is not subject to the benefits under the Cultural Gifts Program.
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