Cost of Commuting= tax write-off??
Moderators: lilfssister, North Shore, sky's the limit, sepia, Sulako, I WAS Birddog
Cost of Commuting= tax write-off??
Hey all,
Anyone out there know if I can write off the cost of commuting (via air) if I live in one place and am based out of another? Also what about room and board when I am staying at my base?
Using QuickTax the help section talks about home terminal which could be construed as home where I live (which is also a base) or the terminal where I am based out of for flying.
I think its all legitimate expenses but don't want to get big brother on my back!
Thanks
Anyone out there know if I can write off the cost of commuting (via air) if I live in one place and am based out of another? Also what about room and board when I am staying at my base?
Using QuickTax the help section talks about home terminal which could be construed as home where I live (which is also a base) or the terminal where I am based out of for flying.
I think its all legitimate expenses but don't want to get big brother on my back!
Thanks
-
- Rank 4
- Posts: 214
- Joined: Thu Dec 01, 2005 8:28 pm
- Location: Alberta
- Contact:
I stand to be corrected, if you are a contractor, its a legit business expense. If you are a permanet employee, I believe its not deductable. Again, I stand to be corrected.
When I was contracting, I wrote of all the travelling expenses, meals, room, board, cleaning costs, part of the phone, morgage, power, etc, etc.
Never had a problem with CCRA, on that!
Maybe worth your time to check with a good tax accountant. May cost you a bit, but the benifits are worth it!
When I was contracting, I wrote of all the travelling expenses, meals, room, board, cleaning costs, part of the phone, morgage, power, etc, etc.
Never had a problem with CCRA, on that!
Maybe worth your time to check with a good tax accountant. May cost you a bit, but the benifits are worth it!
-
- Rank 5
- Posts: 319
- Joined: Mon Feb 16, 2004 12:31 am
I would agree with Bullett, if you are a contractor you could legitimately claim those expenses, while complying not only with the letter of the law, but also the intent of the law. (The CRA is cracking down on tax avoidance--those who violate the intent of the law). They've also for the last five or more years been contesting the "contractor" status of many in the construction industry, particularly those who contract to only one business. A few people I know passed this test by incorporating and getting a GST number etc.
Incorporating can also be used for income splitting. Initial cost is high but it can pay off in certain circumstances.
Incorporating can also be used for income splitting. Initial cost is high but it can pay off in certain circumstances.
If your a pilot which I think you may be you probably can't claim as much as you think if anything....number one if your company hired you to work out of Toronto and you live in Calgary, you can't claim any travel expenses..(you choose to live away from your place of work so that is your choice, it's not the gov. or your companys problem) now if your company then sends you on a trip away from Toronto then you can claim meals and hotel costs etc.(you'll need your company to sign a T2200 for your taxes)..unless they give you meal allowence and pay for your hotels then you can claim neither...look at it this way the government expects all of us to live ,fairly, close to our work site and bases there tax laws around that if you chose to live in Barrie north of Toronto and make the drive down to Toronto every day do you think all those people should get a deduction for gas and meals? Didn't think so..no reason your special just because you fly to work...commuting is a benifit (you didn't have to move) not a right but there are always cost to having a benifit.
I've been commuting for almost half of my 17 years in the air and never been able to find a way to make a deduction....you can try but look out if you get audited.
IMHO
29chev
I've been commuting for almost half of my 17 years in the air and never been able to find a way to make a deduction....you can try but look out if you get audited.
IMHO
29chev