self employed
Prior to calculation of surplus income calculation, I was told by one trustee that not all expenses that are accepted by the cra are accepted by the BIA. Is this true and if so, where is this detailed information found?
Posted from: Ontario
If a business expense is acceptable to CRA then it will be acceptable to your trustee. If it is a non-business related deduction (things like you children’s tuition) that CRA allows your trustee will not allow it.
There is no published schedule – the initial decision rests with the trustee. If you don’t agree with your trustee’s decision you may request mediation to settle the dispute or you may request that the Court review your situation.
In the 14,000 or so files that our firm has handled I am not aware of this every causing a dispute with a client – as long as your expense is a legitimate business expense it should be deductible…