I know of some companies where T2200's are handed out like candy and employee use is rampant. Doing things like claiming mileage using T2200 even though mileage was reimbursed. If CRA accidentally finds one employee doing that, the pain should spread rapidly. Life is too short to cheat CRA. They can make your life hell.
Who's cheating?
T2200 is for expenses that were not reimbursed. If you were reimbursed, the corporation claimed the deduction and you have no deduction on your personal income tax return. If you were not reimbursed, you got a T2200 and you meet the conditions, you can claim the relevant expenses on your personal tax return.
I know people that use T2200 to expense PEO licenses…even though their company reimburses them…
Very confusing asked about a form, told to STFU and now assume I'm cheating...lol
I don’t think anybody said you cheated. There’s lots of cheating but I didn’t see anyone accuse you of cheating at all.
No angry...
It has no affect when you sell your house unless you have claimed capital costs. Occupancy costs are expenses you can claim along the way. To take a few hundred a month off your taxable income is normally not questioned. Try to argue that 50% of your expenses are related to employment uses and cra will likely want to talk.
On the trade front, estimation, payroll, A/P, A/R, procurement/logistics can all be remote.
Yup. No good way around that. On the plus side, it also means those jobs have no threat from outsourcing. If I can work remote from ontario, someone else can work remote from India for less.
