Can I deduct the cost of a class 1 license from my personal income taxes?

[bitteeinbit]

Wondering if anyone knows this. It would seem logical given that a class 1 (truck) can't really be used for personal reasons, it has to be for a job. And given that the costs are roughly the same as a unversity semester, it seems fair that one could deduct it.

But I have a strong feeling the gov. wouldn't allow it.

[triplep]

Here is the link where you might be able to claim it....

http://www.cra-arc.gc.ca/E/pub/tg/5000-g/5000-g-04-10e.html#P1278_171922

and this is the part I would find out....

"(for individuals 16 years of age or older at the end of the year) it develops or improves skills in an occupation and the educational institution has been certified by Human Resources and Skills Development Canada"

Easiest way to do it is call them and ask them if it is Certified by Human Resources and Skills Development Canada.

[urban.one]

Are you talking about the cost of your training or annual licensing fees?

[bitteeinbit]

Cost of me training. As in doing the driving course (theoretical portion, observation portion and driving portion). I would pay the licensing fee's myself but the course itself ranges between 1100-2200$ so it's not exactly insignificant. It would be nice if I could deduct it. Thanks, I'll call the CRA and ask if i can claim it and also which schools, if any, they recognize.

[bitteeinbit]

Just wanted to give an update, IT IS DEDUCTABLE! Bwahahahahaha! However, you need to make sure the school is either in the list of Colleges/Universities or private institutions. From what I've seen pretty much anything can be deducted (I saw beauty schools, driving schools etc). This is the link for those interested:

http://www.hrsdc.gc.ca/eng/learning/canada_student_loan/mcl/html/index.shtml

[triplep]

Originally posted by bitteeinbit
Just wanted to give an update, IT IS DEDUCTABLE! Bwahahahahaha! However, you need to make sure the school is either in the list of Colleges/Universities or private institutions. From what I've seen pretty much anything can be deducted (I saw beauty schools, driving schools etc). This is the link for those interested:

http://www.hrsdc.gc.ca/eng/learning/canada_student_loan/mcl/html/index.shtml

Perfect, I take it you ended up calling them?

Also the link, I was trying to find it for you but wasn't able to, but now you have it, which is perfect!

It never hurts to give them a call.

[Rat Fink]

.

[bitteeinbit]

Haha
http://cache.ohinternet.com/images/2/24/I_see_what_you_did_there_super.jpg

I should get an accountant. My last tax returns were a pain to do because I now have money in 4-5 different banks, trade stocks, have mutual funds, TFSA, etc. I'm also a returning student so returns are getting more complex. I'll claim it when I do it and see what it gives. Even if it's a little bit, better than nothing!

[johnboy27]

Originally posted by Rat Fink
I claimed mine when I did it but I don't think it made much difference as it only set me back 600 bucks. I think my accountant also claimed supplies I bought for trucking too, as I put together my own tool/survival/first aid kit at my cost.

You can also claim your meals each continuous day away from home unless your company has a road allowance setup. My work did the road allowance thing as we didn't want any receipts in our truck that had time stamps of where we were at a given time because it definately wouldn't have matched my logbooks....oooops, meant logbook :rofl:
Even if your company has a meal allowance in place as long as they pay you less than 54 bucks a day you can claim the difference on your income tax. My company only pays 47 max and it is divided up depending how many hours you worked that day. The divisions are different than the governments setup so sometimes I can actually get some cash back on partial days. I claim the difference for every day that I am away from home. Makes for a couple hundred bucks extra by the end of the year.

[bitteeinbit]

How do you have to go about this? You keep receipts of every single meal? Do yo need a special form as well? If so, do you just fill it out yourself or does your employer give it to you?