Magazin'Art

michel bois

À la niçoise, huile sur toile, 20 × 24 po, 2018

Editorial:

On the importance of “being seen” elsewhere

An editorial dealing with the importance of “being seen” elsewhere than on the Net. The Sur le radar section keeping pace with the joyful bustle of artists from the Laurentides region. Meaningful texts on prestigious artists Guy Lemieux, Madeleine Lemire and Denise Pelletier. A commentary on the book entitled Jean-Paul – Fenêtres intimes by Jean-Paul Riopelle’s widow, Huguette Vachon. A text from Michèle Kramer reflecting on artistic hardships caused by the pandemic. A new evaluation of works of art service signed Magazin’Art. Your favorite Magazine offers you a selection of savoury, luminous, intimate and unique discoveries.

 

Michel Bois

 


 

To read the full article …

Buy our fabulous Summer 2020 issue in digital PDF or paper format! 

 

An editorial dealing with the importance of “being seen” elsewhere than on the Net…

Visual arts

post confinement

 

The stay at home requirement has heavily affected the creative community and art galleries at a time when everyone is in dire need of comforting, of liberating images and wonderment. Medically speaking, art is powerless against Coronavirus. However, throughout the ages humanity has shown us that art has acted as balm or bandage to relieve the anxieties of tormented souls. Nonetheless, let’s stand together and mobilize our talents to help propel visual arts beyond this universal downturn. As it happens, an increasing number of gallery owners believe that collectors will henceforth connect with art digitally. Absolute nonsense… Admittedly, gallery patrons may seek information via this cold and pragmatic technology, but images on a screen will never convey the indescribably moving experience provided by the sensual presence of the artwork. Nor will it impart the emotionally charged atmosphere of a vernissage in presence of the artist. Even less will the minimalist description concocted, or worse, a tweet of maximum 140 characters. Indisputably the survival of art galleries has been compromised by this health crisis, but the pre-pandemic facts remain: the ruthless and often exorbitant rental costs, without even one sale. Is it normal to pay $6,000.00 a month for a storefront location? I certainly don’t think so.

On this day, May 4th, art galleries in Québec City, Charlevoix and other regions are back on the playing field. But, at the time of writing these lines, I am unaware of the prevailing situation in Montréal, Toronto, Calgary and Vancouver. Still dismal, most probably! On that, I wish the very best outcome for all within the shortest delays. For artists, gallerists and collectors simply cannot exist without one another. May I also express a wish for the emergence of new open-minded talents, similarly to that crucial moment at the end of the First World War when Surrealism was born! Indeed, exasperated with realistic scenes of the sick, the dying, and of ruins, artists began dreaming of painting the world in a different light, with a desire to emotionally and intellectually inhabit a less unstable universe. Thus art reclaimed its true and legitimate destiny. What will the situation be like after quarantine? What would you like to see? An unprecedented amount of masterpieces expressing personal and soulful visions? Clearly, your Magazin’Art will be here to inform you. Glossy paper. Insightful and thorough texts. Witness to live art for over thirty-two years. With more than 700 drop points across Canada and the United States.

Thank you for commenting. We will publish.

 

 

Michel Bois

 


 

To read the full article …

Buy our fabulous Summer 2020 issue in digital PDF or paper format! 

 

 

The stay at home requirement has heavily affected the creative…

Andréa Marquis, Taureau

Artworks and Income Tax

At this inescapable period of income tax returns for Québec and Canadian citizens, Magazin’Art seizes the opportunity to bring up and underline certain regulations pertaining to the financial impact on the sale of collectible paintings, donations, bequeaths, as well as the tax relief applicable when works of art are acquired by companies. Too many ill-advised urban legends are circulating; many improvised ‘experts’ in the field proceeding in the dark without taking into account costs that may subsequently be engendered. Should some of the provisions of the law seem problematic to you, please do not shoot the messenger. Here are some concrete illustrations. Is income tax applicable when you sell a painting from your collection? Only if its value is over $1,000. If so, it is considered a gain and is added to your income, hence is subject to your marginal tax rate.

You donate to a museum or a recognized public body and would like to deduct the total donation amount on your income tax declaration… Impossible, unfortunately. It should first be noted that the value of the work of art (drawing, engraving, photograph, painting, sculpture, etc.) cannot exceed $200. If such is the case, the Federal rate of amortization is 20% of the value if the work is from a Canadian artist, and 331/3% per Québec’s Ministry of Revenue. Is everything clear and understood so far? Let’s continue. Upon his father’s passing, Dominique inherited his dad’s prestigious collection of quoted works of art. Since the artworks are listed in the testament, the succession had to pay the deceased’s income tax. Dominique is quite happy with this inheritance. Especially since he will not have to pay tax on it himself. He is the heir. Then, when faced with some difficult times, he considers selling the artworks he inherited. A good idea… but, surprise, the revenues from these sales are considered as capital gains since the artworks are valued over $1,000 thus are taxable! As the saying goes: forewarned is forearmed! In closing, an altruistic and consequential wish for the world of visual arts: that companies take better advantage of the amortization applicable to the purchase of works of art. A regulation carefully concocted by the government to equally favour all people implicated in the sphere of visual arts, from the artist to the agent to the gallery owner. Here’s how: the company will be entitled to claim a yearly percentage of depreciation up to the total value of the price paid to acquire the work. Should the company then decide to sell the artwork, it will realize either a capital gain or loss. 50% of this gain will then be taxable for this company. Charming and tortuous meander of taxation… to your calculators, entrepreneurs, gallery owners, citizens and artists!!! Should these writings seem hurtful to you in any way, please contact your tax accountant.

In this spring edition: a Great Encounter with Guy Paquet, this wonderful painter daydreaming in the infinity of the heavens; the inception of a new Québec art gallery; and all there is to know about AVQ, a new visual artists association. Good reading.

Michel Bois

 


 

At this inescapable period of income tax returns for Québec and Canadian citizens…