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tjm567klg
April 26, 2022
Question

Is there a standard deduction for tools

  • April 26, 2022
  • 1 reply
  • 0 views
other employment expenses, is there a standard deduction for tools?.

    1 reply

    TurboTaxSusan
    TurboTaxSusan
    May 18, 2022

    No. The deduction for tools is based on a formula that uses the actual cost of your tools in its calculation. The formula is different depending on whether you are a Tradesperson or an Apprentice Mechanic. Please see these Canada Revenue Agency (CRA) webpages for more information:

    Deduction for tools (tradespersons)

    Deduction for tools for an eligible apprentice mechanic

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