Trove has many financing option to help you acquire art for your home or business. some of the option we provide are Rent to Own, Layaway Plans, and payment plans for multiple pieces.

There are also tax incentives for purchasing Canadian Art if the purchasing entity is a Canadian citizen or company.

For more works sold by Trove a Rent to own option is available. Based on the total value of the art, Trove will calculate a monthly payment that would be cover the value of the art and a slight premium based on a one or two year amortization. All rent payments would are discounts from the final purchase price of the piece. If the artwork is return the previous payment could be directed to another piece in Trove's inventory. Rent to own is a great way to get started with a piece of art at a low entry price wile providing the flexibility to change your mind.

If there is a piece of Art in Trove's inventory that would you like to reserve but would like more time to decide. Trove has a layaway plan where you can put down a deposit to reserve a piece of art and either put additional payments or pay for the value of art in full over the course of a year. This artwork would remain in Trove's active inventory. If another customer is willing to purchase the artwork, Trove would provide the Layaway custom a short term to commit to the pieces.

If you are committed to a piece of art but would like to make payment over a couple of months, Trove will work with you calculate a payment plan.

Investing in Canadian art offers more than just aesthetic value – it can provide significant tax advantages for both businesses and individuals. The Government of Canada has established compelling tax incentives to encourage the acquisition of qualifying Canadian artworks, making art collection an attractive investment opportunity.

Understanding the Tax Benefits

The Canada Revenue Agency (CRA) allows taxpayers to claim deductions for Canadian art purchased for business environments, including personal offices and common areas. Whether you're a corporation or an individual business owner, these art acquisitions are treated as capital expenses, enabling annual tax deductions under specific conditions.

Qualification Requirements

To be eligible for tax benefits under the Canadian Tax Act, artwork must satisfy these key criteria:

1. Canadian Creator

The artist must have been a Canadian citizen or permanent resident when creating the piece.

2. Business Purpose

The artwork must be displayed in a business environment where clients can view it and must align with the company's commercial activities.

3. Value Threshold

The piece must be valued above $200. Eligible mediums include paintings, drawings, sculptures, etchings, and photographs.

4. Tax Recovery Options

GST and QST registrants can reclaim taxes paid during purchase through input tax credits. Additionally, businesses can deduct expenses related to art rentals.

Deduction Rates

Qualifying purchases are eligible for:

• 33% declining deduction at the provincial level (class 8.1)
• 20% declining deduction at the federal level (class 8)

Important Exclusions

Certain pieces are ineligible for tax benefits, including:

• Artwork valued under $200
• Pieces created before 1900 (over 100 years old)

Professional Guidance

Given the complexity of tax regulations, consulting a Chartered Professional Accountant is essential to verify your art purchase's eligibility for these deductions. By investing in Canadian art, you not only enhance your business space but also support the national arts community while potentially securing valuable tax advantages.

Note: This information serves as a general guide. Tax regulations may change, and individual circumstances vary.