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7 months ago
financialpost
Backing up expense claims on your taxes could save you from CRA trouble
Abstract
A Vancouver taxpayer recently found out when trying to claim employment expenses on her 2016 and 2017 returns. The CRA disallowed $59,800 of advertising expenses in 2016, and $58,000 in 2017, taking the view that they were either not made or incurred by the taxpayer. All expenses you plan to deduct on your tax return must be reasonable. In other words, the expenses must be'reasonable' and the expenses you plans to deduct in the tax return.
