Take a look at the top five most unusual ways to keep more money in your pocket from Certified General Accountants of Ontario:
1. Expenses for dogs and cats located on the farm are deductible if those expenses relate to their use for rodent or other wild-animal control, or for security.
2. A computer used by a professor to teach and create music was ruled, by the tax courts, to be a musical instrument and thus eligible for employment deductions.
3. A salesperson or other employee who lives and travels in a motor home might be able to deduct expenses of that motor home relative to the proportion it is used for business (e.g., distance travelled).
4. Foot and bicycle couriers, along with rickshaw drivers, qualify for a meals deduction of up to $17 daily, without receipts.
5. Future parents who are in the process of adopting a child may be able to claim eligible medical expenses for that child prior to the actual adoption date — provided they become responsible for the child's care and supervision prior to the arrival.
More tax tips and a downloadable personal tax planning guide can be found online at cga-ontario.org.