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| *The Commerce Journal>>>Canada Taxes |
Question about canadian income tax? |
I own a small company and I started as an entrepreneur. When calculating the provincial quebec taxes with federal, I substract the percentage from my income.6,5% and 7%. But once i've done it I have to substract something from the taxes. Can anyone tell me if the gas( vehicle fuel) and the work phone is included in substracting from one of the taxes? Thank u I believe that you are asking about QST and GST. Once you have determined the GST and QST that you charged on your sales (income) then you need to add up how much GST/QST you paid on your business expenses. Vehicle fuel and telephone expenses qualify as long as they are incurred as part of your business (i.e. not personal expenses.) Source(s): http://www.cra-arc.gc.ca/tax/business/to... http://www.revenu.gouv.qc.ca/eng/entrepr... Yes all business expenses are tax deductible, the line and schedule should be clearly indicated in your return. If not contact R.C. |
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