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Artist Taxation

Tools for Visual Artists


Please note that the following information is not meant to replace advice from a tax professional, and you can find the most up-to-date information through the CRA.

Tax tips for artists:

In 2020, CRA revised its income tax bulletins for visual artists, writers, and performing artists, and replaced it with Income Tax Folio S4-F14-C1, Artists and Writers. It provides invaluable information to help you plan your taxes.

Generator offers a useful Artist Finances blog with articles on a range of topics, including reporting grants and financial literacy resources.

For visual artists, CARFAC has an Advisory Note, Preparing for your tax return, which offers a summary of common items claimed as revenues and expenses in an artist’s business. A more detailed guide to planning your taxes is coming soon.

Did you get a grant? The Canada Council for the Arts offers useful information, Income Taxes and Your Grant. Check your provincial or territorial arts council for further information.

Donating your art: Are you an individual planning to donate art to a registered charity or other qualified donee, such as a gallery or museum? Are you having your gift appraised? If so, the decisions you make may affect your tax situation. This guide will provide you with information about making a gift.

Are you an employee or self-employed worker?

– Information for Employed individuals: As an employee, you may be able to claim certain home office expenses. Eligible employees looking to claim a deduction for home office expenses must complete Form T777 and get a completed and signed Form T2200 from your employer. Remember, the deadline for most Canadians to file and pay any amount they owe is April 30.

– Information for Self-employed individuals: The deadline for self-employed individuals and their spouse/common-law partner to file is June 15. The CRA offers free, confidential personalized virtual visits for small businesses and self-employed individuals through its Liaison Officer service. Here is some additional information on the Liaison Officer service and Small Business and self-employed income.

What are my tax obligations as a self-employed individual?

For more information on tax filing this season, here are some tips and links from the CRA to help simplify the filing experience, and to help eligible applicants receive the benefits, credits, and deductions they are entitled to.

– Filing your return this year: what do you need to know?

To receive updates on what is new at the CRA, you can:

 

This project has been made possible with support from the Canada Council of the Arts, and in collaboration with the Government of Canada.