Business Expenses & Business Tax 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