The Commerce Journal,Business and Local Businesses
*The Commerce Journal>>>Canada Taxes

Hobby sales, mileage..?


when I sell my crafts at markets, and I want to claim for mileage... is that still 36.7 cents per km

No. (See CRA Link Below). Rates have really gone up over the last couple of years. I have copied them below;

The automobile allowance rates for 2008 are:

52垄 per kilometre for the first 5,000 kilometres; and
46垄 per kilometre thereafter.
In the Northwest Territories, Yukon, and Nunavut, there is an additional 4垄 per kilometre for travel.

The automobile allowance rates for 2006 and 2007 are:

50垄 per kilometre for the first 5,000 kilometres; and
44垄 per kilometre thereafter.

I believe in this situation you claim actual expenses, including a portion of maintenance.

Tags
  Spain Taxes   Singapore Taxes   Mexico Taxes   Ireland Taxes   India Taxes   Germany Taxes   Canada Taxes   Australia Taxes   Small Business   Renting & Real Estate
Related information
  • Do I claim CCA on an asset that I buy and sell in the same year?

    When you buy an asset its cost is added to the pool of assets of the business. The half-year rule applies and the depreciation associated with the asset is limited to 1/2 of its CCA rate for t...

  • Spouse non resident in 2007. How not to claim spousal amount?

    you can't claim for a spouse if you weren't living together

    ...
  • If i give myself a mortgage overseas under a corporation, can i buy a house in Canada?

    You can buy a house whether u got the money from your overseas corporation, bank account, or from a foerign or cdn bank. However, before u can deduct the mortgage interest in canada, the mortgag...

  • Question about Canada Tax laws and penalties?

    If it's minor you will be charged he tax, plus penalties, plus interest. If it large enough that they feel you were hiding it (for example, how could you 'forget' half your income?)...

  • Does canadian government accept a partial forgiveness of gst debt that is long overdue?

    I doubt the govt would forgive the debt if your husband's name is still on the house title, and the govt intends to get the gst back when he has the money from selling the house. If u wish,...

  • Ontario tax - can I claim for support payment to my mother living abroad?

    No, you cannot. This is the same (no deduction) as paying support payment (living expenses) to an unemployed adult child living in another province.

    ...
  • Ontario tax - can i claim for medical expenses incurred abroad?

    Yes, you may, if the foreign hospital meets the condition and if your medical expenses exceed 3% of your income. If there is doubt as to whether an institution is a licensed private hospital, ...

  • Geologist working in the Arctic, can I write off some of my clothing?

    If u are self employed, you may deduct some of these clothing expenses that relate to your job and these clothings cannot be used for your personal daily clothing. If u r an employee, you may ...

  •  

    Commerce Categories--Copyright/IP Policy--Contact Webmaster