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You are viewing a preserved web page, collected by Library and Archives Canada on 2007-11-16 at 01:39:10. The information on this web page may be out of date and external links, forms, search boxes and dynamic technology elements may not function. See all versions of this preserved page.
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Cool cash for your tools!

Did you know...

That if you are a tradesperson you may be able to deduct your tool expenses? The newly proposed tradesperson's tools deduction provides employed tradespersons with an annual deduction of up to $500 to help cover the cost of new tools necessary to their trade. The deduction applies to the total cost of eligible tools in excess of $1,000 acquired by an employed tradesperson after May 1, 2006.

For more information on the tradesperson's tools deduction, visit www.cra.gc.ca/whatsnew/tools-e.html.

This document is also available for download in .pdf format.

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Date Modified: 2007-02-01

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