Heffel

Cultural Property Donations Update

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[caption id="attachment_6826" align="aligncenter" width="650"] Iris bleus, jardin du Petit Gennevilliers, 1892, Gustave Caillebotte, Art Gallery of Ontario[/caption] The charitable tax incentives for donations of certified Cultural Property – art and artifacts – is the richest in Canada.  Cultural Property donations are exempt from capital gains tax and can be claimed against 100% of the donor’s net annual income over up to six years. The incentive is part of a complex….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Art and Fair Market Value

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[caption id="attachment_7127" align="aligncenter" width="550"] Sir Frederick Grant Banting, 1891 – 1941, The Lab[/caption] Fall art auction week in Toronto is just past. The biggest is run by Heffel Fine Art Auction. The results for the two Heffel auctions illustrate the challenge of determining fair market value in art. The auction catalogue listed a number of estates and charitable foundation as consignors. Clearly art valuation issues affect estate planning. Heffel offered 135….

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Estate Administration, Estate Donations, Estate Planning, Uncategorized
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