Canuckbusiness

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Chainsaw deduction for forestry worker employees

Do you work in the forestry industry? Did you buy a new chainsaw or trimmer? You can deduct the cost of these (and their operating expenses) on your tax return on Line 229. To do so, you must meet these requirements:

  • You work in forestry operations.
  • You use a power saw to earn your employment income.
  • You had to pay for the power saw under your contract of employment and your employer will not be reimbursing you.

You should also get a T-2200 form signed by your employer. You do not have to file this with your return but you should keep one at home in case CRA decides to ask you for it.

Go here for more details.

 

October 25, 2012 - Posted by | Personal Tax, tax, tips |

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