Comments on: Small tax deductions you might miss

By: Claim the Ontario Children’s Activity Tax Credit « MoneySense

Claim the Ontario Children’s Activity Tax Credit « MoneySense — Mon, 25 Apr 2011 18:50:14 +0000

[...] Small tax deductions you might miss [...]

By: Mike Stewart Downtown Vancouver Real Estate Blog

Mike Stewart Downtown Vancouver Real Estate Blog — Wed, 15 Apr 2009 00:28:11 +0000

I’m selfiemployed so it works for me.

Sid – I don’t have any links for that. I just go on what my accountant says.

Fees too expensive? Really? I need to pay for parking several times a day 5-6 days a week, so the fees are worth it to me. AND its much cheaper than the $200+/month in parking tickets I used to get.

Are the fees not deductible as well?

Love to hear your thoughts.

By: Canadian Capitalist

Canadian Capitalist — Wed, 15 Apr 2009 00:01:33 +0000

sid: Parking is tax deductible for the self-employed who pay for parking in the course of business. Employees like us are out of luck. I’m pretty sure that’s the case because my spouse pays for parking and would love to write it off

By: sid

sid — Tue, 14 Apr 2009 23:40:25 +0000

Mike, I meant the tax deduction, not the paying by phone.

We have that too here in Winnipeg but when you add up the extra fees, it’s not worth it.

By: Mike Stewart Downtown Vancouver Real Estate Blog

Mike Stewart Downtown Vancouver Real Estate Blog — Tue, 14 Apr 2009 22:53:56 +0000

PS… The woman in the picture is a friend of a friend.

How odd is that?!

By: Mike Stewart Downtown Vancouver Real Estate Blog

Mike Stewart Downtown Vancouver Real Estate Blog — Tue, 14 Apr 2009 22:43:57 +0000

Hi Sid,

Here is a City of Vancouver link that explains how it works.

I can’t recommend it enough!

http://vancouver.ca/engsvcs/parking/paybyphone.htm

Let me know how it works out.

Thanks!

By: sid

sid — Tue, 14 Apr 2009 21:52:25 +0000

Mike,

Can you provide a link explaining the parking deduction? I pay a ton of money for parking downtown.

By: Mike Stewart Downtown Vancouver Realtor

Mike Stewart Downtown Vancouver Realtor — Tue, 14 Apr 2009 16:35:05 +0000

Great post!

Write off your Pay Parking! (I know it always has been deductible, but this makes it waaaaay easier to keep track off)

I spend $100+/month because of my work as a Realtor. I never kept track of the small amounts in coins because it was waaaaay too time consuming following my accountants instructions for keeping track of pay parking.

Pay By Phone (check your city for availability) lets me pay for my parking with my cel phone and it bills my credit card automatically.

Give the credit card bill to your accountant with the Pay By Phone charges and Voila! You can start writing off all that money you spend on pay parking.

By: Canadian Capitalist

Canadian Capitalist — Mon, 13 Apr 2009 22:16:17 +0000

I’m not sure whether a UL policy would count as an investment but I believe you’d need a receipt stating the safe deposit charge to claim it as a deduction. Any tax experts want to chime in?

By: Cash Canuck

Cash Canuck — Mon, 13 Apr 2009 20:32:44 +0000

My chequing account fees include a safety deposit box. What amount can I claim? I also maintain a balance in my chequing account to avoid paying fees, does that mean I can’t claim anything? Does a Universal Life Insurance Policy count as an investment for the purposes of storing investments in a safe deposit box?