To support the acquisition of Canadian artworks, both governments have given individuals and companies that operate a business the opportunity to deduct a portion of the amortization of the cost of acquisition. The work must be exhibited in the individual or company’s place of business to benefit from the amortization.
Government of Quebec: Tax deduction of the amortization of 33.33% of the cost of acquisition of a work of art.
Government of Canada: Tax deduction of the amortization of 20% of the cost of acquisition of a work of art.
Source: The Arts of Investing in Culture