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Expenses for self employment only counted 50%


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Hi,

I am filing my tax. When I claimed expenses for my self employed business (day care), I realized that only 50% of the expenses (meals, utilities, etc.) were deducted from the gross income. On the other hand, the expenses were deducted fully if I used SimpleTax. Is it a way that I can adjust the deduction to 100% in Ufile? Thanks!

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Hi jac, you can deduct 100% of the expenses related to earn a business income BUT the maximum part you can claim for food, beverages, and entertainment expenses is 50% of either the amount you incur or an amount that is reasonable in the circumstances, whichever is less. For more information please go to https://www.canada.ca/content/dam/cra-arc/formspubs/pub/rc4070/rc4070-17e.pdf .

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