Tax deductions

[yem]

Are there any tax deduction or any other deduction that can be used when comes tax time ?
I just finished my PPL and plan on just getting the night rating next.
Thanks.

[rigpiggy]

In order to get a tax deduction you have to finish your commercial or at least that is what it used to be. however save your receipts I forget the time interval (18months) you can claim all your flight training back. visit CRA.gc.ca

[yem]

Yes, I went through the website .. but geez, good luck to find anything there.
My thought was that PPL training could be deducted at tax time as any other training/course. And "special" or additional tax credit for holders of a CPL.

[wallypilot]

PPL is not a valid tax deduction.

For training, you can deduct what the government deems to be tuition toward a certificate. In aviation, this means that you can deduct the cost of ground school, (not books, though, just the cost of the course), the 100 hours of commercial time building, the 35 hours of dual, and the 45 hours for your instrument ticket. That's it. Nothing more.

You cannot deduct the night rating, float rating, or anything in addition to the above, unless you work it in to be included in the dual or solo above.

Good luck with the CRA!

-wp

[Fresh Prince of King Air]

You need to get your flight school to fill out a TL11B form. It's on the CRA site somewhere. It doesn't have to be flight training. Ground training counts as well. If you were to take an exam prep course or something, for instance. I think the institution needs to be registered with them though.

Has anyone ever claimed a Rolex as an official time piece? I was thinking about getting a GMT Master or a Breitling Colt GMT. Just curious if there is anyone who has actually done this?

Thanks

[yem]

Thanks wallypilot and fresh prince.
I downloaded the TL11B form, and there seem to be an entry for PPL course, so I'll see what I can do with that.
Maybe I'll give CRA a call .. ouch that's going to hurt ...
Thanks again

[C-GPFG]

Has anyone ever claimed a Rolex as an official time piece? I was thinking about getting a GMT Master or a Breitling Colt GMT. Just curious if there is anyone who has actually done this?
Thanks

Claimed a $500 watch and subsequent repairs to it.

[peterpan]

I have been though this before. You can claim PPL tuition if your INTENT is to get a CPL and find related work.

[chief]

Peter Pan is correct. Your PPL CAN BE tax deducted. If I remember correctly there is a form to sign to indicate that your intentions is to continue your training towards a CPL in order to obtain work. For recreational purposes a PPL is not tax deductable.

[yem]

Interesting about the "intention to continue training towards CPL" ...
Pretty vague requirement.