Nuances art gallery offers you a wide selection of paintings available for rent. Not only can you postgreat quality paintings at lower cost, but it allows you to rotate and take advantage of tax benefits in the case of an office or business.
The gallery can be rented for corporate events, such as conferences and wine tastings. Catering services can be provided. Gift certificates for employee rewards and departures are also available.
A Canadian business or corporation that purchases an eligible work of art to decorate a part of the workplace that is accessible to its clients, can claim an annual capital cost allowance. At the provincial level, the work of art is a Class 8.1 asset and a deduction of 331/3 % is allowed (half the first year). At the federal level, the work of art is a Class 8 asset and a deduction of 20% is allowed (half the first year).
If you buy a painting by a Canadian artist for $1,000, you can deduct an amount of $167 at the provincial level and 100$ at the federal level for the year of the purchase. The next fiscal year, the company can claim a capital cost allowance at a rate of 331/3 % at the provincial level and 20% at the federal level, and so on for each subsequent year.
Moreover, companies do not pay QST for paintings delivered outside of Quebec and they do not pay taxes (QST and GST) for paintings delivered outside of Canada.