Your tradesperson or apprentice mechanic tools deduction might be $0 if you haven't:
- Spent the minimum amount on eligible tools
- This amount is set annually by the CRA
- Earned the minimum amount in related employment income
- This amount is also set annually by the CRA
- Reported all amounts accurately in your Wealthsimple Tax profile
Wealthsimple Tax will use your reported amounts to calculate the deduction accurately on your forms.
To review the calculations:
- Go to the Summary > Documents section
- Review the T777 Statement of Employment Expenses
For help entering tool expenses in Wealthsimple Tax, contact our support team. For advice on eligible expenses or how to maximize your deduction please consider consulting a tax expert.
Comments
0 comments
Please sign in to leave a comment.