The New York Times recently had an article Canada Debates Whether Gift of Leibovitz Photos Is Also a Tax Dodge which discusses a donation of photographs taken by Annie Leibovitz. There was also coverage in the CBC, another CBC and Toronto Star. The story is fascinating as it involves celebrities, tax incentives, valuation, and cultural property all in one.
Here is a note from CRA to CCPERB on the proposed gift because CRA was asked for a tax shelter identification number.
In the past we have covered the Canadian Cultural Property Export Review Board (CCPERB). Some examples include:
Access to Information on CPERB and abusive charity gifting tax schemes
“David Baines: Vancouver museum’s “Michelangelo” sculptures fail to sell at auction”
Advisory on Tax Shelter Gifting Arrangements by the Canadian Cultural Property Export Review Board
Summative Evaluation of the Movable Cultural Property Program
Related Posts
July 29, 2021
Blumbergs’ Submission for the Pre-Budget Consultations for the Canadian Federal Budget 2022 with a focus on Transparency and Accountability in the Non-profit and Charity Sector
Here is the Blumbergs' Submission to the House of Commons Standing Committee on Finance for the Pre-Budget Consultations in Advance of the Upcoming…
July 29, 2021
“Confidence in charity leaders has fallen sharply over the last two decades – what does that mean for the sector?”
In this excellent article by Steven Ayer, he writes that confidence in the charity sector has fallen considerably over the last two decades. The…
July 29, 2021
Grantmaking in Canada can be improved immensely but eliminating structured arrangements is dangerous and a red herring to the real problems with our sector
With respect to a recent bill passed by the Senate, but not the House of Commons, relating to structured arrangements/direction and control we have…