Has anyone claimed meals for 2010 on there income taxes. What are the rules, do you need to be away from base for 24 hrs?
Trying to read the rev canada rules is like reading CARS, you need a lawyer or an Account, and being a cheap pilot I don't want to pay for either.
Any tax tips would be great.
Tax deductible 2011 claims
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ihavecontrol
- Rank 2
- Posts: 80
- Joined: Tue Feb 24, 2004 8:45 am
Re: Tax deductible 2011 claims
This website explains it relatively well:
http://www.cra-arc.gc.ca/tx/ndvdls/tpcs ... s-eng.html
You need to fill out this form and keep it on file in case Revenue Canada decides to audit:
http://www.cra-arc.gc.ca/E/pbg/tf/tl2/README.html
It basically works like this. Revenue Canada stipulates you are reasonably entitled to $17/meal as long as you meet their requirements of being a transportation employee. You are entitled to claim a meal every four hours you are away from base to a maximum of three meals in a 24 hour period. Once you calculate what you are entitled to under Revenue Canada's rules, you deduct what you were actually paid from your employer in per diems. You can reduce your taxable income by the difference (I believe on line 229 of your return). If you have further questions feel free to PM me.
http://www.cra-arc.gc.ca/tx/ndvdls/tpcs ... s-eng.html
You need to fill out this form and keep it on file in case Revenue Canada decides to audit:
http://www.cra-arc.gc.ca/E/pbg/tf/tl2/README.html
It basically works like this. Revenue Canada stipulates you are reasonably entitled to $17/meal as long as you meet their requirements of being a transportation employee. You are entitled to claim a meal every four hours you are away from base to a maximum of three meals in a 24 hour period. Once you calculate what you are entitled to under Revenue Canada's rules, you deduct what you were actually paid from your employer in per diems. You can reduce your taxable income by the difference (I believe on line 229 of your return). If you have further questions feel free to PM me.
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THIN CRUST
- Rank 1
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- Joined: Wed Mar 23, 2011 6:57 pm
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thinnercrust
- Rank 0
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- Joined: Tue Mar 29, 2011 1:11 pm
Re: Tax deductible 2011 claims
You have to be away for 12 hours or more before you can claim any meals.
(I didn't click on any previously posted links, so I seek forgiveness if I'm Captain Obvious)
(I didn't click on any previously posted links, so I seek forgiveness if I'm Captain Obvious)
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pilotman15
- Rank 3
- Posts: 183
- Joined: Sun Feb 22, 2009 9:27 pm
Re: Tax deductible 2011 claims
My understanding of the form was that every 4 hours you're away from base you can take credit for $17 worth of meal expenses up to 3 credits in a 24 hour period. Once you add all of the $17 credits you believe you are entitled to, subtract what you were payed in any per diems (could be zero if you don't receive any). Then take that final number and divide it in half and this amount then comes off your income.
e.g. you calculate that you are entitled to 100 meal credits = $1700
You were payed $500 worth of perdiems. - $500
This equals $1200. Divide by two equaling $600.
This $600 comes off your income.
My understanding anyway. We'll see what the taxman has to say.
e.g. you calculate that you are entitled to 100 meal credits = $1700
You were payed $500 worth of perdiems. - $500
This equals $1200. Divide by two equaling $600.
This $600 comes off your income.
My understanding anyway. We'll see what the taxman has to say.
Re: Tax deductible 2011 claims
my understanding was you have to be away for 12 hours at a time as well
Re: Tax deductible 2011 claims
When on travel status, you can claim meals, accomodations, transportation, and incidentals (on longer trips).
This requires you to submit a travel expenses claim to get reimbursed for your expenses so you can't claim it on your tax return.
This requires you to submit a travel expenses claim to get reimbursed for your expenses so you can't claim it on your tax return.
