BU357 Lecture Notes - Lecture 4: Union Dues, Capital Cost Allowance, Oregon Route 8
Document Summary
Rule: no deductions allowed, unless specifically permitted [8(1)] Most common: salesperson"s expenses [8(cid:523)(cid:883)(cid:524)(cid:523)f(cid:524), traveling expenses [8(1)(h),(h. 1), professional and union dues [8(1)(i), works space in home [8(1)(i),8(13), contributions to rpp [8(1)(m), the use of automobile [8(1)(h. 1)], [8(1)(j)] As employees, you can claim limited amount of deductions. 3 conditions in order to claim deductions: expenses: you have to pay all the expenses (not paid by employer, expenses you pay are for work, deductions are allowed only when they"re under section 8 specific. Salesperson"s expenses: selling property, negotiating contract, and yearly earn commissions. Work space in home: expenses related to home office. Use of automobile: when employees pay for all the operating expenses. Must be required to pay his own expenses: deduction only allowed if all conditions are met: Must be required to carry on his duties away from the employer"s place of business. If you receive an allowance, you include it in your income and then deduct the expenses.
