Did you know....as a tradesperson, you can save on the tools you buy!

Did you know?

 

If you are an employed tradesperson, you may be able to deduct up to $500 of the cost of eligible tools you bought in 2013.

You may also be able to get a rebate of the Goods and Services Tax/Harmonized Sales Tax (GST/HST) you paid. For more information, see Employee GST/HST rebate.

Important facts

 

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 it 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 for the purpose of measuring, locating, or calculating).

For more details on how to calculate the deduction for tools, go to www.cra.gc.ca/trades.