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The Charter of the French language and its regulations govern the consultation of English-language content.

Operating Expenses

If you are a self-employed person or a member of a partnership, you can deduct certain expenses from your business income.

Deductible expenses

As a rule, you can deduct any reasonable expense incurred to earn business income. However, certain expenses are not deductible. These include

  • investments;
  • capital expenditures or capital losses;
  • reserves (also called "contingent accounts" or "sinking funds"), unless their deduction is expressly permitted under the Taxation Act; and
  • expenses incurred to establish a business, before operations actually begin.

Refer to the guide Business and Professional Income (IN-155-V) for more information about the deductions to which you may be entitled. You will find information about:

Member of a partnership

As a member of a partnership, you can deduct from your share of the partnership's income (or loss) the expenses you incurred with respect to that income (or loss), provided the expenses:

  • are not included in the partnership's expenses;
  • are deductible only by you; and
  • are not reimbursed to you.
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