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
-----------------------------------------------------------------
We will find a way or we will make one
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
Advertise Contact Us Privacy Policy and Terms of Usage FAQ Canadian Desi © 2001 Marg eSolutions Site designed, developed and maintained by Marg eSolutions Inc. |