Travel Expenses Summary
Travel can be complicated. Especially if you combine business with personal travel.
To make it even tougher, Canada Revenue has some strict rules around travel, and many people don’t know them.
Download this form. Attach all your travel information including flights, itinerary, and any passes or brochures to any events you attended.
Travel expenses are a little tricky.
You can deduct any travel that you do for business purposes. For a rule of thumb, consider “travel” to be anywhere 2 hours or more away from home.
Many people travel for business to a convention and then add a few personal days. Yes, you can do this. But you have to properly allocate your costs.
Your accountant / tax person should do this for you at tax time. However, make them prepared by downloading this travel form and attaching all your information to it. In some cases, Canada Revenue Agency would ask you for proof of your trip and proof that it was for business purposes. Keep admission tickets, itinteary, flight information, a listing of meetings and anything else you did for business purposes.
Attach that to this form, and turn it in with your books to your tax person at the end of the year.
Read the technical yadda yadda here on the Canada Revenue Agency website.