What documentation do I need to claim motor vehicle expenses? TheCRA says, "The best evidence to support the use of a vehicle is an accurate logbook of business travel maintained for the entire year." Your vehicle logbook should include for each business trip: ...
Small-business owners can claim input tax credits on zero-rated items, which is a way to recover GST or HST that you owe or pay on expenses or purchases related to your company. If your company falls under any of the zero-rated or taxable industries, you will need to charge your custom...
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The following expenses are not deductible, as indicated by the CRA: Land transfer tax - add these amounts to the cost of the property Mortgage principal - you may be able to deduct interest, however. See Line 8710 - interest and bank charges Penalties - any that show up on your noti...