Canadian Art Tax Deductions

Art for your business?

Surprise – that piece of original art isn’t just another pretty picture. If it’s for public display in your place of business, there may be a tax benefit hiding under that canvas as well.

The Tax Act provides some great incentives that could open the door to owning beautiful original art and lightening your tax load.

 According to the CRA, the cost of acquiring original artwork for a business can be treated as a deductible expense for income tax purposes i.e the purchase price of the artwork can be deducted from the business's taxable income, reducing your overall tax liability. To be eligible, the CRA has established a few conditions. 

  • The work must have been created by a Canadian artist.
  • The work must have a purchase value greater than $200 .
  • The work must have been created after 1900.
  • The work must be displayed in a place of business so that it is visible to clients or customers.

 Art from Art on 9th

Every piece of art in the Collection at Art on 9th is by a Canadian artist. Everything is valued at more than $200. And all of it was created post-1900. That means whatever you purchase from us, meets the CRA criteria.

Of course, every business is different, so be sure to check with your tax professional if you plan on claiming these benefits.