A CRACKDOWN ON POPULAR TAX DEDUCTIONS IS COMING - September 2018

STANDARD DEDUCTIONS

A pervasive myth about eligible tax deductions is that everyone is entitled to claim a “standard deduction” of $150 for laundry, 5,000 kilometres for cars or $300 for work-related expenses.

These deductions are available and can be legitimate, but they must arise from expenses incurred directly from a work-related activity.

While you don’t need receipts for claims under $300 for work-related expenses, $150 for laundry and 5,000 kilometres, you still must have spent the money, it must be related to earning your income, and you must be able to explain how you calculated your claim.


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