14 Expenses You May Be Entitled To Deduct

Thousands of Canadians pay more income tax than they should. By not taking full advantage of tax credits and deductions, you may be one of those generous Canadians without even knowing it. Are you aware of all of the deductions that are available to you? Do you file your return on time? Do you pay tax instalments quarterly to avoid interest charges?

Here is a look at some of the commonly missed opportunities that could be contributing to your larger than necessary tax bill.

Expenses you may be entitled to deduct

Employment Expenses

Automotive Expenses

Employees who are required to use their own automobiles for work (other than for travelling from home to and from their workplace) without reimbursement from their employer can deduct the work-related portion of their automotive expenses. If you are reimbursed and the amount of the reimbursement is not "reasonable," you can still claim a deduction for the non-reimbursed portion. In order to claim employment