What is Deductible?

As a business owner, you are likely aware that, generally, expenses you incur in order to earn business income are deductible when it comes to tax time.

Now, in the CRA’s eyes, these expenses must be in the normal course of legitimate business, not just for your personal pleasure.

There are particular stipulations on things like club fees, including expenses incurred if you are hosting clients or employees at a golf course. And in general, you can only deduct 50% of these expenses, except under certain parameters.

For assistance with your business expenses, contact Mario at marioyu2@gmail.com or 416-566-8806.