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Sticking It To The Man.


InspectorGadget
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Hi there. As tax season is approaching I wanted to get some tips for write offs. After last year I talked to some friends in the biz and they mentioned a few things they filled out to get some big money back but I can't remember any of them.

 

I know as an apprentice I can, and have, claimed up to $1000 in tools each year, but are there any other easy ones out there?

 

Any help would be great and I'm sure all us pretengineers out there could use the extra couple bucks this year!

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Also, you better realize that an AME is not in a recognized trade (IE you do not become a "journeyman mechanic"), and you are probably not eligable to write off any of your tools for tax purposes.

 

AME's are professionals, not tradesmen (no offence to tradespeople, but we just aren't).

 

RTR

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Ugggg I knew someone would say that. I don't really care though, as most of the people I know have no problems claiming those things like tools and some apprentice loopholes. Also, my accountant didn't help me out last year in this department so this year I am doing some research of my own.

 

I really just needed some info from someone who has done it. Some form numbers or something.

 

And also, if anybody thinks that we are at all more skilled or better than tradespeople, thats a joke. And its been debated many times on this site.

 

Thanks anyways.

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It's not a matter of "better", it's a matter of job description. You don't need a licence to change a part, you need a licence to certify the part and the installation.

 

For example, a highly skilled mechanic fixes your car for you. You pay him and you drive away. There was never a requirement for the mechanic to certify his work in order for you to drive away.

 

An AME changes a part on your helicopter (or causes the part to be changed). Before you fly away the work must be certified, or you may not legally fly away. The AME must make a certification statement, or maintenance release, in order to keep your CofA in force.

 

How many Tradespeople have the authority to certify what they do to that extent?

 

Bit different now eh?

 

By the way, I have the utmost respect for our Tradespeople and do not consider any of them below me on a totem pole. I just understand that our legal resposibilities are a bit different.

 

cheers,

RTR

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The thing to know is that when you get auditted, Revenue Canada auditors are not accountants. I have seen an accountant deal with a Revenue Canada auditor and it was like watching a puppy get hit by a truck. I cannot overemphasize how important it is to use an accountant. Even a bookkeeper can leave you in a lurch.

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There is the Industry Training Authority (googled it) which my buddy's used last year to guide him to the different links to forms and what-not. There is lots of info on there but as far as tax related stuff I printed copies of:

 

Apprentiship Job Creation Tax Credit

Employed Apprentice Mechanic Tool Deductions

British Columbia Training Tax Credit Program (Apprentices)

 

And I also printed off info about claiming my student loans and student loan interest which I just found out have been lying around for 3 years without anyone telling me I can claim them.

 

At least with these I can go into a accountant with some education and questions right?

 

Hope this helps some other people like me who just learning thier way around a tax return.

 

Every couple bucks helps!

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