The charitable tax incentives for donations of certified Cultural Property – art and artifacts – is the richest in Canada. Cultural Property donations are exempt from capital gains tax and can be claimed against 100% of the donor’s net annual income over up to six years. The incentive is part…
Tag: Heffel Gallery Limited v. Canada (Attorney General) 2018 FC 605
Total 3 Posts
The 2019 Federal Budget was uneventful in terms of charitable incentives (journalism aside), but there are two proposals that will directly affect giving. The first relates to donations of cultural property – especially art with foreign origins – and the second to employee stock options. The former represents the reinstatement…
How can an export permit affect charitable giving? Quite easily if you are dealing with a foreign art work deemed “cultural property” under Canada’s Cultural Property Export and Import Act (CPEIA). A June 12 Federal Court of Canada decision on the export of French impressionist painting has reportedly frozen donations…