Can works of art of a foreign artist that are listed personal property be held by a corporation without being subject to s. 15(1)? CRA responded:
[G]enerally, in situations where a painting by a foreign artist, acquired by a public corporation, is used exclusively to decorate a boardroom or office of a shareholder who is an employee of the public corporation, subsection 15(1) would not apply unless the corporation acquired the painting at the express request of the shareholder to decorate his or her office or boardroom.