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Maximize Your Tax Benefits: Invest in Original Canadian Art for Your Business

Have you ever considered leveraging your tax refund to enrich your corporate environment? Instead of opting for conventional investments, why not explore the lasting benefits of acquiring original Canadian art from independent living artists? Original art not only fosters discussion and entertainment but also enhances the aesthetic appeal of your corporate spaces, ultimately adding value to your business premises. Following are some Tax Benefits of purchasing original Canadian Art.

Tax Benefits Canadian Art

Golden Hour in The Heart of Canoeland, Acrylic 36 x 60 x 1.5 in (91.44 x 152.4 x 3.81 cm) Brandy Saturley

Embrace the Opportunity to Define Your Brand:
Decorating your corporate offices with original Canadian paintings serves as more than mere decoration. It’s an opportunity to convey your brand’s ethos and warmth to clients and employees alike. Each piece of art injects a sense of taste, class, and sophistication, elevating your corporation’s image and fostering a sense of community within your workspace.

Tax Deductions Make Art Acquisition a Smart Investment:
Did you know that purchasing original Canadian art offers substantial tax benefits for your business? The Canadian government actively supports investments in Canadian artwork by offering tax incentives to businesses of all sizes. By investing in the Canadian art market, not only do you enrich your corporate environment, but you also enjoy tax deductions under the Capital Cost Allowance scheme. Consult your accountant for personalized advice on maximizing these benefits.

Tax Benefits Canadian Art

Saint Kanata – Acrylic 48 x 36 x 1.5 in (121.92 x 91.44 x 3.81 cm) Brandy Saturley

Make Art Acquisition Affordable with Fine Art Financing:
Art Lease Canada provides an attractive solution for businesses looking to invest in fine art without significant upfront costs. With low-interest financing and flexible payment terms, building an impressive art collection becomes accessible to businesses of all sizes. Plus, by financing your Canadian art purchases, you can claim these expenses as tax-deductible business expenses, further enhancing your financial benefits.

Tax Benefits – Buy Original Canadian Art Because You Love It:
Beyond financial considerations, the primary motivation for investing in original Canadian art should always be personal connection and appreciation. Each artwork is a testament to the artist’s creativity and vision, resonating with your own sensibilities. By nurturing a direct relationship with the artist, you not only acquire a unique piece of art but also contribute to preserving Canada’s artistic heritage for future generations.

Tax Benefits Canadian Art

Monarch of The Arctic Realms – Acrylic – 48 x 48 x 1.5 in (121.92 x 121.92 x 3.81 cm) Brandy Saturley

Unlock the Benefits of Investing in Original Canadian Art:
Whether it’s paintings, sculptures, or photographs, investing in original Canadian art offers both aesthetic and financial rewards. Take advantage of the tax deductions available for business art purchases and explore financing options to make art acquisition more accessible. By infusing your corporate spaces with original Canadian art, you not only enhance your brand’s image but also contribute to the vibrant cultural landscape of Canada.

Discover a beautiful painting for your lobby or office, now.

Canadian Tax Deductions on art

Commission a custom painting for your business with Brandy Saturley

The benefits of investing in original Canadian art.

Investing in original Canadian Art has offered better returns than cash and other government investments since 1900, research finds. When I buy art I am never looking for a reason, my primary reason for buying art is whether or not I love it, the artwork I buy has to bring me joy in a way that money alone cannot. No matter how much you love your Tesla stock, it can never deliver the same exhilaration as a house packed full of fine original Canadian art. Life is heavy and far too fleeting to not invest in beautiful artworks to surround you.

Investing in Canadian ArtAs a Canadian artist who paints, my day is about infusing beauty, joy, visual and symbolic stories into my canvasses. It is all about passion, and it is worth your investment. I breathe it all in and let it bleed out onto the canvas, creating something original, tangible, and handmade. An original artwork, the only one of it’s kind. How many things can you invest in that are the only one, painstakingly and lovingly rendered to the creators rigorous standards?

While there are many opportunities when it comes to investing, I encourage you to take some of that capital, and invest it in pure, original, real, fine art, from a living artist. The benefits last generations and can be enjoyed over and over, finding something new in the artwork daily. Original Art offers opportunities for discussion, entertainment, decoration, and in turn increases the value of your home or office.

Did you know that the purchase of original Canadian Art, is tax deductible? Another benefit of investing in original fine Art made in Canada. There are various Canadian Tax Deductions on original Canadian Art purchases. It is wonderful that the Canadian government recognizes the importance of encouraging the purchase of original Canadian art. Investing in the Canadian art market and its creators offers many benefits to Canadian businesses large and small. The Canadian Government has implemented tax incentives intended to promote the purchase of Canadian artwork, now is the perfect time to invest in something that makes your business more beautiful.Investing in Canadian Art

Buying Canadian artwork, paintings, etchings, sculptures, drawings, photographs, etc. is considered as an amortization expense for corporations or individuals who operate a business. It qualifies as a tax deduction provided that certain criteria are met. The Canadian tax law allows business owners to purchase and write-off Original Canadian Art in its entirety.  The acquisition of Original Canadian Art is included in the Capital Cost Allowance for all Canadian businesses, so long as the Artist was a Canadian Citizen when creating the work and the work of art is an original worth a minimum of $200. (more from the CRA website about business expenses and art )

The paintings of Canadian Artist Brandy Saturley have increased considerably in value since the Artist began selling her work in 2006. For example a small 30×40 painting when the artist began selling professionally would run about $500.00 CAD, now a painting of this same size would run you $5100.00 CAD. I say small because the artist typically paints large artworks these days of 3×4 feet or larger.

Your investment in original Canadian Art returns MUCH MORE than monetary returns. The number one way to support an artist is by buying their Art. As a collector, you take on the responsibility – and privilege – of carrying on an artist’s story on their behalf.

Investing in Canadian Art

You Can Afford That Pricey Painting – Five Ways to Buy Original Art

Whether you are in an art gallery, at an art show, or browsing art online, you have probably seen a painting you love and thought, “I love it but I can’t afford that painting”. At this point, there is very little excuse to not have something original and interesting on your walls, in our humble opinion. Owning an original painting, by a real artist, has many benefits: for starters, the artist’s work gets more valuable with time, unlike a car, suddenly you have a lucrative capital asset. There is also the rewarding sense of owning an original piece of art that you can proudly display in your home, providing an interesting conversation piece when guests drop by, original art IS definitely something to talk about. But everyone knows the downside to buying original artwork is that it comes with a dollar sign followed by many, many zeros, even when the artist is fairly young and emerging on the art scene. We’re not saying artists don’t deserve every penny of that price tag, but chances are you don’t have that kind of cash lying around for a spontaneous kind of moment. But this should never keep you from buying an original piece of art today, before it is gone tomorrow. There are SO many ways to buy art, that makes it affordable for almost anyone. Here are five ways to buy art, today;

1. Finance Your Art Purchase:  That’s where this genius service called Art Lease Canada comes in; have that painting in your home now and pay for it over a time that suits your budget. Established in 2003, Art Lease Canada is a Canadian financing company that helps people acquire art within a monthly budget. Their approach is simple. They buy art on behalf of their customers and lease it to them over a specified period of time. The client enjoys the art in their homes or businesses while making monthly lease payments and at the end of their lease, they own the art. Art Lease Canada finances art purchases valued between $1,000 and $25,000 for art galleries and self-representing artists across Canada. This means the next time you’re sipping wine and browsing art online, or in a gallery and come across a $5000 painting you really, really have to have (and it’s not the wine talking), you could use an Art Lease loan to purchase the artwork. This means on a $5000 painting, you only have to drop $234.00 over the next 24 months. Buyers remorse begone! Or at least temporarily diminished. If you are buying for your office or business, Art Lease is business friendly – monthly payments are a tax-deductible business expense.

finance your art purchase

2. Rent Your Art: love a painting but not sure you want to make it a forever relationship? No problem, most galleries and professional self-representing artists offer rental options where you can rent an artwork for a small monthly fee and then trade it in when you are ready for something new. This is a great way to ‘try out’ new art that you may end up buying in the future. For as low as $50 a month, you can rent a painting. Once you select a work of art, we can hand-deliver and install the piece (local clients only Vancouver Island and Vancouver mainland). After a month, you can keep renting, return it, swap it for another work, or purchase it. Most rental pieces list for $1000 to $2500.

rent your art

3. Trade-In Your Art: you own a painting that you no longer have the same love for, or you may have a lot of art and not a lot of wall space, and you are not interested in paying for an art storage service. Many galleries, and a few professional self-representing artists, offer ‘buyback programs’ where they will buy back your art for the price of what you purchased the art for as a credit against a new art purchase of equal or greater value.

buy art online

4. Group Buy: do you have a few friends that love art? Ever thought of getting together to buy a great painting, or a few paintings and then sharing them? This option offers you the ability to move the painting from home to home every few months, offering the chance to enjoy something new on your walls every few months. We would only recommend this option if you know each other REALLY well and there is a good level of trust, you don’t want your original art purchase damaged.

five ways to buy art

5. Write-off Your Art: Encouraging purchases of Canadian artwork. Buying original artwork is considered as an amortization expense for corporations or individuals who operate a business. It qualifies as a tax deduction provided that certain criteria are met. The artwork must have been created by a Canadian artist and must be related to the business’s commercial activities, for example, it must be exhibited in a place of business where it will be seen by clients. If the purchase meets these criteria, the buyer is entitled to a declining deduction of 33% of the cost of purchasing the artwork (class 8.1) at the provincial level and of 20% (class 8) at the federal level. Some works of art are, however, excluded and do not qualify for a tax credit, more specifically works having a value of less than $200 or created prior to the 1900s – created over 100 years ago. Moreover, if the buyer is a GST and QST registrant, he can recover the taxes paid at the time of purchasing the artwork by claiming input tax credits. Lastly, if the work is rented instead of being purchased, the rental expenses are also deductible as long as the expense was made for business purposes.

Five Ways to Buy Art online

You CAN afford that original painting, now all you have to do is decide which painting is the lucky one for you!

buy art online

See more paintings by Canadian Artist, Brandy Saturley.