business
EXPENSES & DEDUCTIONS
You can deduct any reasonable current expense you paid or will have to pay to earn business income. The expenses you can deduct include any GST/HST you incur on these expenses less the amount of any input tax credit claimed. You cannot deduct personal expenses. Common Business Expenses are listed below:
- Advertising expenses
- Allowance on eligible capital property
- Bad debts
- Business start-up costs
- Business taxes, fees, licences, dues, memberships, and subscriptions
- Business-use-of-home expenses
- Capital cost allowance
- Computer and other equipment leasing costs
- Convention expenses
- Current or capital expenses
- Delivery, freight, and express
- Fuel costs
- Insurance
- Interest
- Leasing costs
- Legal, accounting, and other fees
- Maintenance and repairs
- Management and administration fees
- Meals and entertainment
- Motor vehicle expenses (automobile)
- Office expenses
- Other expenses
- Prepaid expenses
- Property taxes
- Rent
- Salaries, wages, and benefits
- Supplies
- Telephone and utilities
- Travel
Related links
- Deductions, Credits, & Rebates
- Provincial Parental Insurance Plan (PPIP)
- Working Income Tax Benefit (WITB)
- Medical Expenses
- Employment Insurance (EI)
- GST/HST Credit
- Meal Expenses
- Vehicle Expenses
- Business Tax Deductions & Business Expenses
- GST/HST New Housing Rebate
- Lifelong Learning Plan (LLP)
- Registered Education Savings Plan (RESP)