Of course, if you chose to file your taxes with a chartered accountant you don’t have to worry about these forms and simply have to focus on listing all your promotional activities.Īny other methods of promotion such as giving seminars, giving out company tokens such as stationary and mugs, and also creating flyers all come under promotion and can be written off. If you run a corporation then you can claim it in your T2 form. If you paint your van or truck to promote your business you can claim it as a business tax write-off. PromotionĪnything that you do to promote your company counts as a legitimate tax write-off.
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Your website’s expenses also come under advertising.
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The remaining 80% of the article should be journalistic in nature. Secondly, your advertisement cannot make up the entire article, but only a small percentage (20%). If you have advertised in a newspaper or a magazine then there are a few conditions that have to be met in order for the claim to go through with the CRA.įirst and foremost you can only use Canadian media outlets to advertise. If you have put up any advertisements, whether they are online or through direct media outlets you can claim them. One expense you can claim is for your business advertisements. In this comprehensive small business expenses guide, we will discuss some tax write-offs which small businesses can pursue. However, there are some general expenses that most-if not all businesses can generally have written off. The truth is that it really depends on business to business. If you run a business in Canada one of the biggest questions on your mind is probably what different expenses can you claim to attain tax deductions and benefits? There are many expenses which small businesses can write off in order to cut down on their taxes.
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Did you know that the average Canadian-including small business owners in Canada- pay 42.5% of their income in taxes? That’s a lot of money.