How to save Tax ???


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Smiley   
Member since: Mar 03
Posts: 1185
Location: USA

Post ID: #PID Posted on: 22-06-04 12:57:37

Jake is right !

You cannot use a home business to create losses, You can carry them forward indefinitely to balance against any capital gains you make in future.

Nope you cannot use your 10% of apt rent for that but what you could use is

Direct Business expenses
Business office expenses
Motor vehicle use for business
incorporation costs

These can be used but the intent has to be to make profit and CRA would likely question you if they feel the business was created to make losses
to save taxes


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We will find a way or we will make one


jellyman   
Member since: Jun 04
Posts: 69
Location: Toronto

Post ID: #PID Posted on: 23-06-04 06:34:24

Thanks for the feed back !
They dont want a common man to make money,
its only the politician & rich guys who can get away with stealing money.
And getting all the benefits.
Too bad . . . :(

They just want you in debt





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