Special Tax Deductions for Artists and Musicians

Artists and musicians may claim expenses for items specific to their profession, including capital cost allowance on musical instruments.

These claims are limited to the lesser of $1000 and 20% of employment income. Claims may be made for items such as ballet shoes, body suits, art supplies, drum sticks, computer supplies, home office costs, as well as rental, maintenance, insurance and capital cost allowance on those musical instruments. This is another example where consistent gathering and storing of out of pocket expenses can pay off for taxpayers with unique costs.