Canadian artist tax credit for works of art
Your Corporate painting might not cost you anything
Did you know that since 1981 the Quebec government has offered a tax credit that allows you to deduct the entire cost of a work of art created by a Canadian artist.
Follow this link for an explanation of the Quebec government’s tax measure
For Canada this measure is a little different but offers you 20% deduction per year.
In fact, when you buy a work of art and display it at your place of business you will be able to write off your investment at 33.3% in the first year and years thereafter until the total of your investment has been refunded to you as a tax credit.
This is an excellent reason to invest in a corporate painting, a painting to embellish the decor of your office or to highlight the achievements of the Founding President or other.Posted on: 15 January 2019- Diane Bérubé