At this time of the year, most of us need some liquid assets. So pairing the right wine with your tax return should not be taken at face value.
As well as vinous savvy, you’ll also need financial acumen to calibrate the wine to your T4. Regardless of the wines you chose, you can’t go wrong as about 65% of the price is of wine is tax, so you’ll get to contribute one way or the other.
After sending in the cheque, it’s time to eat repentant bologna sandwiches for six weeks. If you owe, it’s off to the bargain wine basement you go.
But that doesn’t mean your wines have to be a write-off. There are many wines with excellent PE multiples (that’s price-to-enjoyment) from lesser known regions, countries with aggressive export strategies and those with weak currency.
For wines that make tinned and frozen foods taste better, try Errazuriz Sauvignon Blanc, Chile.
Those researching Chapter 11 will want to try park bench favourites Fat Bastard Shiraz or Grooner Gruner Veltliner, Austria, with a Scope chaser.
If it’s a break-even year, when you’ve neither saved nor spent too much, go for wines that are balanced. Try Sterling Vintner’s Cabernet, California and Villa Maria Sauvignon Blanc, New Zealand.
Even though you’re not in the red, you still may want to drink red, so try Menage a Trois Red or Perrin & Fils, France.
Then there are the happy few walking around with that refund smirk (really, you shouldn’t gloat).
Maturity is a concept that not only applies to your well-stocked cellar and investment portfolio, but also to sharing that windfall with your tax-paying brethren.
A public offering or even a private placement of some of your wines with employees is the least you can do.
Of course, if you’re buying these wines for yourself, it’s simply to replace the 1982s you’ll take out of your cellar to drink now.
Show some irrational exuberance with Masi Amorone Della Valipolicella 1995, Italy or Ridge Geyserville, Califorina.
Cristal Brut Champagne 1995, France and Krug Champagne, France are capital choices that go well with your foie gras, caviar and paté or, if Jeeves has the weekend off, stilton and mixed nuts.
Then there are those of us who actually drink for a living, and for whom all wine should be deductible. (Try having that discussion with Revenue Canada.)
The problem is that when your only assets are liquid, you can easily become insolvent.
Editor’s Note: Apologies for the amortized wisdom of a Western MBA. Some residual values never go away.