Canadian artist tax credit for works of art

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

Revenu Quebec

For Canada this measure is a little different but offers you 20% deduction per year.

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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 2019diane@dianeberube.com