How businesses can get a tax deduction for office decor

FINANCIAL POST MAGAZINE | Jamie Golombek:

If you’re a business owner who enjoys displaying artwork in your corporate offices, you might be entitled to some tax relief to help subsidize the cost of your art. In a recent technical interpretation letter, Canada Revenue Agency addressed the question of whether taxpayers who purchase or rent works of art, either for their own individual office or for the common areas of their places of business (such as a lobby or hallway), would be permitted to claim a tax deduction for the cost of purchasing or renting the art… Read more

Image: A taxpayer who acquires a work of art may be able to deduct an amount from the business income.

2018-10-23T18:10:51+00:00