Line 8760 – Business taxes, licenses, and memberships
You can deduct all annual licence fees and some business taxes you incur to run your business.
Some examples of licence fees are:
- beverage licenses
- business charges
- trade licences
- motor vehicle licenses
- motor vehicle registration permits
Some examples of business taxes that may be deductible are:
- municipal taxes
- land transfer taxes
- gross receipt tax
- health and education tax
- hospital tax
You can also deduct annual dues or fees to keep your membership in a trade or commercial association, as well as subscriptions to publications. You cannot deduct club membership dues (including initiation fees) if the main purpose of the club is dining, recreation, or sporting activities.
Licences (business taxes and memberships) for fishers
Enter the total cost to renew your annual licences. If you bought a licence from another fisher, you can only deduct part of the cost each year.
If you bought a fishing boat and the price included the cost of a licence, you need to know what part of the price was for the licence and what part was for the boat. Try to agree on these amounts with the seller.