Works of Art and Taxes
InsightsDid you know that, under certain circumstances, you can claim a tax deduction for purchasing Canadian works of art?
Simon Gareau has over 10 years of experience in Canadian and Québec taxation. The variety of the situations he has encountered over the years has made it possible for him to develop solid experience in tax planning (professional incorporations, mergers, liquidations, reorganizations, acquisitions and others). He has assisted numerous health professionals, specifically pharmacists, in sale-purchase transactions.
Did you know that, under certain circumstances, you can claim a tax deduction for purchasing Canadian works of art?
The destruction of a building represents an involuntary disposition for the purposes of the Income Tax Act.