tax writeoff question.

[ULTRAMAN]

Does anyone know which form I need to fill in order to writeoff my tools? I work in a bodyshop but I have never done this before. Am I allow to backdate the tools that I bought in 2007 as well? Any information would help. Thank you very much.

[jasperlin]

i believe it's schedule 8.

[pwdiero]

Chapter 7 — Employed tradespersons
You may be able to deduct the cost of eligible tools you bought in 2008 to earn employment income as a tradesperson. This cost includes any GST and provincial sales tax, or HST that you paid. You may be able to get a rebate of the GST/HST you paid. We discuss the GST/HST rebate in Chapter 10. When completing Form GST370, Employee and Partner GST/HST Rebate Application, see if Situation 6 applies to you.

An eligible tool is a tool (including associated equipment such as a toolbox) that:

you bought to use in your job as a tradesperson and was not used for any purpose before you bought it;
your employer certified as being necessary for you to provide as a condition of, and for use in, your job as a tradesperson; and
is not an electronic communication device (like a cell phone) or electronic data processing equipment (unless the device or equipment can be used only for the purpose of measuring, locating, or calculating).
Your employer has to complete and sign Form T2200, Declaration of Conditions of Employment. Have your employer complete question 11 of Part B of the form to certify that the tools being claimed were bought and provided by you as a condition of your employment as a tradesperson. Attach to Form T2200 a list of the tools being claimed, as well as the related receipts. You do not have to include Form T2200, your receipts, or your list of tools with your return, but keep them in case we ask to see them.

http://www.cra-arc.gc.ca/E/pub/tg/t4....html#chapter7

http://www.cra-arc.gc.ca/E/pbg/tf/t777/t777-07e.pdf

http://www.cra-arc.gc.ca/E/pbg/tf/t2200/t2200-08e.pdf

[no driver]

^^ thanks

[ULTRAMAN]

thanks for the info.