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Apr 18, 2024 · But property tax related to a workspace used for business purposes in your home must be claimed as a “business-use-of-home” expense. What are non-tax-deductible expenses? Unfortunately, even though some of these expenses seem legitimate, they are not tax deductible for your small business: Clothing.
Dec 11, 2016 · You can deduct your technology expenses in two ways: as a current expense or as a capital expenditure. Current expenses are costs you pay for immediate use, like internet service or in-app purchases. The CRA allows you to deduct the full cost of these items in the year of purchase.
Nov 1, 2018 · There are two general limitation rules in subsection 18 (1) of the ITA that limit the deductibility of all expenses to certain conditions: First, the expense must be incurred for the purpose of gaining or producing income from a business or property; and second, an expense that is capital in nature is not deductible unless the capital expenditur...
Jul 20, 2022 · In addition to setting quantity and quality standards, the CRTC requires broadcasters to implement a monitoring system to ensure closed captioning is included in the broadcast signal, and that captions reach the viewer in their original form.
Business tax, fees, licences and dues. You can deduct any annual licence fees and some business taxes you incur to run your business. You can also deduct annual dues or fees to keep your membership in a trade or commercial association, as well as subscriptions to publications.
Jan 31, 2018 · The Film or Video Production Services Tax Credit (PSTC) is a different, refundable tax credit for Canadian film production companies. It’s available to both Canadian and foreign companies that do 50% of their business permanently in Canada.
People also ask
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Jan 17, 2018 · Again, the principle here is that you can deduct % of expenses that relate to business activities. The expenses you can deduct include: Gas. Interest on financing (subject to a limit) Licence and registration. Insurance. Repairs and maintenance (fixing, car wash, oil changes, parts)
