If you choose the detailed method to calculate meal expenses, you must keep your receipts and claim the actual amount that you spent. If you choose the simplified method, you may claim a flat rate of $17/meal, to a maximum of $51/day (Canadian or US funds) per person by Accounting Brampton. Although you do not need to keep detailed receipts for actual expenses if you choose to use this method, we may still ask you to provide some documentation to support your claim.
If you choose the detailed method to calculate vehicle
expenses, you must keep all receipts and records for the vehicle expenses you incurred for moving expenses or for northern residents deductions during the tax year; or during the 12-month period you choose for medical expenses.
Vehicle expenses include:
such as fuel, oil, tires, licence fees, insurance, maintenance, and repairs.
such as depreciation, provincial tax, and finance charges.
You also have to keep track of the number of kilometres you drove in that time period, as well as the number of kilometres you drove specifically for the purpose of moving or medical expenses, or for the northern residents deductions. Your claim for vehicle expenses is the percentage of your total vehicle expenses that relate to the kilometres driven for moving or medical expenses, or for northern residents deductions.
For example, if you drove 10,000 km during the year, and
half of that was related to your move, you can claim half of the total vehicle expenses on your tax return.
Although you do not need to keep detailed receipts for actual expenses if you choose to use the simplified method, we may still ask you to provide some documentation to support your claim. You must keep track of the number of kilometres driven during the tax year for your trips relating to northern residents deductions and moving expenses, or the 12-month period you choose for medical expenses. To determine the amount you can claim for vehicle expenses, multiply the number of kilometres by the cents/km rate from the chart below for the province or territory in which the travel begins.
For more information: Please call our office at 905-794-8283.