IT 504R2 Canada Revenue Agency’s Interpretation Bulletin (IT – 504R2) for visual artists and writers contains valuable information for practicing artists and writers. Most of us in the art game derive at least some of our income from a source other than our artwork.

We work as teachers, graphic designers, wedding photographers – whatever we can to make a ‘crust’. For my part I work as a tax specialist – claiming scientific research and experimental development tax credits for Canadian companies performing eligible experimental development work…hence my interest in tax issues for visual artists.

While the policies outlined in Interpretation Bulletin IT 504R2 were widely seen as encouraging to artists – particularly with the loosening of the concept of “reasonable expectation of profit”, the sad truth is that no reasonable person would ever take up a paintbrush as a way to make money. The ‘value’ of art has little or nothing to do with money – but artists need money in order to create art. Clearly a great deal of creativity is needed to build the right policies to encourage the arts.

– Rob Farrow, CGA ♦ Executive Director

TOWARDS A BETTER TAX POLICY FOR VISUAL ARTISTS IN CANADA

V.I.V.A. needs the help of other arts organizations to help improve the economic landscape for visual artists in Canada. If you agree with our position (see link below), lend us your support – send your emails to reallybigart@shaw.ca – or add your comments to this page.

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