Sticking It To The Man.

[arctic_front]

Good job sniffing those things out, Gadget. It will help others as well.

 

good luck

 

 

[ray]

If you work in trades, you can claim any tools purchased during the year.

 

You need your employer to sign a form indicating those tools were required as a condition of your employment.

 

My accountant is a CGA.

 

This particular amendment was introduced in 2007.

[scottyp1973]

better ask your accountant to read the 2008 rules, a tradesperson can claim for tools by filling out the t2200 and t777form. just look in this years employment expenses forms booklet, chapter 7 employed tradepersons. states licenced tradesperson may deduct maximum of 500.00. and apprentice deductions are a little more complicated just read your tax book its quite simple.

 

 

 

.

If you work in trades, you can claim any tools purchased during the year.

 

You need your employer to sign a form indicating those tools were required as a condition of your employment.

 

My accountant is a CGA.

 

This particular amendment was introduced in 2007.

 

[RTR]

Great!

 

Now just find some documentation that states that Aircraft Maintenance Engineering is a recognized Trade IAW Revenue Canada.

 

RTR

[helimat]

You are the Man, Junior!

[sling]

hre's a little smthin i had to play for ya tax payers.

[marc]

I alway use "cutetax" online. funny name I know, but it is a really good, straight forward on-line tax service. Google it as i forget the address.

 

You can try out all your different senarios for free. you only pay if you submit it to CRA.

 

As for tool tax credit, i don't know where the "red seal trades only" stuff came from:

 

You are an eligible apprentice mechanic if you:

 

are registered in a program established under the laws of Canada or of a province or territory that leads to a designation under those laws as a mechanic licensed to repair self-propelled motorized vehicles (such as automobiles, aircraft, boats, or snowmobiles); and

are employed as an apprentice mechanic.

As an eligible apprentice mechanic, you must first calculate the tradesperson's deduction for tools, if any, that you qualify for. You may qualify for that deduction if you bought eligible tools for your job in 2008. You can then complete the calculation described in the section called Deduction for tools for an eligible apprentice mechanic to determine if you can also make this claim in 2008.

 

An eligible tool is a tool (including associated equipment such as a toolbox) that:

 

you bought to use in your job as an eligible apprentice mechanic and was not used for any purpose before you bought it;

your employer certified as being necessary for you to provide as a condition of, and for use in, your job as an eligible apprentice mechanic; and

is not an electronic communication device (like a cell phone) or electronic data processing equipment (unless the device or equipment can be used only for the purpose of measuring, locating, or calculating).

Your employer has to complete and sign Form T2200, Declaration of Conditions of Employment. Have your employer complete questions 12 and 13 of Part B of the form to certify that you bought and provided the tools being claimed as a condition of your employment as an eligible apprentice mechanic. Attach to Form T2200 a list of the tools you are claiming, as well as the related receipts. You do not have to submit Form T2200, or your list of tools or receipts with your return, but you should keep them in case we ask to see them.

 

Note

If you are not an eligible apprentice mechanic, you cannot claim expenses for apprentice mechanic tools you purchased in 2008. However, you can claim any amount you are carrying forward from a prior year as long as it is not more than your net income on line 236 of your tax return.

 

VERY useful link right from the cra:

 

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/nc...c/menu-eng.html

 

 

 

 

[scottyp1973]

good post........ that about sums it up

[InspectorGadget]

Thanks Marc you pretty much summed it up perfectly. I need to look into this ITA (industry training authority) thing a bit more, but I know a friend who claimed the BC Training Tax Credit program from it as well. I'm not sure but I think you have to sign up for it, like a program or something. And your company does too... But not 100% sure.

[marc]

I claimed the BC Training Tax Credit and didn't sign up for anyting.

 

I went to the ITA website and AME training is "currently under review".

 

I guess this whole thing is so new we will have to see.

 

I claimed it because the actual tax forms have AME (Aircraft Maintenance Technician they call it, i guess that band of useless suits known as CAMC got to them) on them so as far as I am concerned I can claim it legally without signing up with ITA yet.

 

Marc