![]() |
|
| *The Commerce Journal>>>Canada Taxes |
Can I apply money spent on training/education in the U.S. to my Canadian income tax? |
Thanks. I will be doing some training and spending several thousand dollars on it in the U.S., so want to know if this will work the same way as tuition paid in Canada regarding taxes. If u are self employed, as a rule, expenses of attending a training course outside the taxpayer's general geographic locale are considered unreasonable to the extent that they exceed what they would have been had a similar course been attended locally, if available. The CRA may question the deductibility of expenses incurred in connection with attending a course held in a distant location or in a recognized holiday area. This depends upon your personal situation. If you are operating a business (have revenue in that business) and the expenses of doing this training are related to the business that you are running ~ than the old rules appy ~ match revenues against expenses. |
| Tags |
| Spain Taxes Singapore Taxes Mexico Taxes Ireland Taxes India Taxes Germany Taxes Canada Taxes Australia Taxes Small Business Renting & Real Estate |
| Related information |
It appears that you may not be eligible as a jewller to elect closing inventory as NIL. However, the visual artists and writers are specifically provided in the cdn income tax act under subsectio... If u are a single individual taxpayer, you dont pay tax if u earn less than $9600 (your allowable annual tax exemption amount) a year. If you have wife and kids, your exemption may increase. Pls ... ... Your 2nd one is what the sales slips from ontario retail stores show. However, I would have thought that both of your examples would show the same amount of sales tax and total final sale price. ... If you are a business you have a GST number and collect GST on your sales. The GST you pay on your business expenses are netted off against the GST you collect and remit to the government. The ... 2008 FEDERAL INCOME TAX RATES FOR INCOME EARNED BY A CANADIAN--CONTROLLED PRIVATE CORPORATION Small Business Income up to $400,000 鈥?11% General Active Business Income 鈥?19.5% Inv... Unless a person who went thru both CGA & CMA, it would be difficult for anyone to give u meaningful answers to your questions, and such person is difficult to find. Having said that, I wou... If u got a raise, how much you net after taxes, will depend on your current income and your marginal tax rate. For example, if you earn less than $9000 a yr, and any income increase u get to $9000... |
Commerce Categories--Copyright/IP Policy--Contact Webmaster |