Canada Question for Canadians

brokcanadian · Mar 6, 2016

Americans can take a 54 cent per mile deduction (taxes), i've been told for Canadians in a commercial truck you can take ZERO. Any Canadians sucessfully done this?

(I know this thread will probably be moved, but I'm hoping it will live long enough to get an answer)

Thanks

{leaving it here, but gave it the Canada thread prefix - Turtle}

OntarioVanMan · Mar 6, 2016

brokcanadian said:
Americans can take a 54 cent per mile deduction (taxes), i've been told for Canadians in a commercial truck you can take ZERO. Any Canadians sucessfully done this?

(I know this thread will probably be moved, but I'm hoping it will live long enough to get an answer)

Thanks

you are talking a van right?....

brokcanadian · Mar 6, 2016

Hi OVM long time no see...yes van, something about 2 seated vehicle with cargo area not eligible for deduction...

OntarioVanMan · Mar 6, 2016

is that Ontarios ruling or Revenue Canada?.....

OntarioVanMan · Mar 6, 2016

CV's don't get a PRP plate but I had to pay Ont Sales Tax on fuel BUT I did get the GST on the fuel rebated back.....had to go thru every receipt and separate it...a real pain.....but other then that bookkeeper used actual expenses...

brokcanadian · Mar 6, 2016

They're CRA now lol...yes federal, for all intents and purposes Ontario seems to only take a percentage of federal...the last advice I got from a CPA has them making up their own numbers and garnishing my gross pay...I filled out a form wrong and they are not changing it

brokcanadian · Mar 6, 2016

Ontario sales tax on fuel? How does that work?

OntarioVanMan · Mar 6, 2016

brokcanadian said:
Ontario sales tax on fuel? How does that work?

well there is Ont tax on your fuel....if you had a PRP plate you could be sales tax exempt...

brokcanadian · Mar 6, 2016

Oh that's what you mean, I thought you meant extra...I add as many tanks as I think I need to avoid that one, until this year I never filled up in Canada

Just looking for my proper max deductions, I don't like how they give the mileage deductions to buses taxis limos and self employed but somehow people that deliver freight aren't allowed to take it

OntarioVanMan · Mar 6, 2016

brokcanadian said:
Oh that's what you mean, I thought you meant extra...I add as many tanks as I think I need to avoid that one, until this year I never filled up in Canada

Just looking for my proper max deductions, I don't like how they give the mileage deductions to buses taxis limos and self employed but somehow people that deliver freight aren't allowed to take it

I know I just jacked up all the allowable expenses...I used to have a Canadian 5 gallon can just for that....LOL Holds 7.5 U.S gallons.....indian reserve in NYS or the Detroit duty free....
now going to Montreal....that was expensive darned Frenchman....

OntarioVanMan · Mar 6, 2016

You do deduct office space in house?....

brokcanadian · Mar 6, 2016

Housing situation too complex to explain, but no...might be able to write off the storage units, I'm in a 20% ish bracket so every 100 dollars is only worth 20...Btw you do know what happened to house prices here?

brokcanadian · Mar 6, 2016

Just looked it up, average for 905 area code region $783,565

although I'm an hour from TO so a 3 bedroom older home c an still be had for a measly $400,000...

Back on topic, no way to take a mileage deduction for Canadians anybody knows about?

OntarioVanMan · Mar 6, 2016

1 10x10 room extra bedroom =100 sq ft aka office....1500 sq ft house you get just over 5% deduction from rent/mortgage, land taxes, elect, water, and upkeep....

completely legal as per CPA

OntarioVanMan · Mar 6, 2016

brokcanadian said:
Just looked it up, average for 905 area code region $783,565 although I'm an hour from TO so a 3 bedroom older home c an still be had for a measly $400,000...

Back on topic, no way to take a mileage deduction for Canadians anybody knows about?

only 1 other active Canuck around and that be Scott....

brokcanadian · Mar 6, 2016

Wow. Where are we all hiding? Anyway long version is family rents a house and already takes max deductions for the ICU we had to put in, I live in the van