Mechanics' Tools Expenses And Taxes?

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found info revenue canada. hope helps:

new tradesperson's tools deduction provides employed tradespersons annual deduction of $500 cover cost of new tools necessary trade. deduction applies total cost of eligible tools if following conditions met:

-the total cost exceeds $1,000;
-the tools bought after may 1, 2006;
-the purchase made employed tradesperson.

more info avail @ canada revenue agency website. click on search , type in: tools.

can mechanics claim tooling expenses in canada, when time comes file income taxes? heard rumour somewhere law has changed enables them so.


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