2016-12-30 00:00:00 Expenses English Deduct certain expenses that you incur when you attend eligible conventions. Find out what convention expenses the Canada Revenue Agency... https://d1bkf7psx818ah.cloudfront.net/wp-content/uploads/2017/03/08214452/craft-brewer-serves-beer-flight-at-convention.jpg What are Convention Expenses?

What are Convention Expenses?

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Convention expenses are expenses incurred while attending a business-related convention. These expenses include transportation and lodgings.

In Canada, taxpayers can deduct eligible convention expenses incurred for up to two business-related conventions per year. Conventions sponsored by local organizers must be held in the geographical area where these organizers conduct their businesses. The geographical restriction doesn’t apply to conventions sponsored by foreign organizers.

Costs of food, beverages, and entertainment are considered meal and entertainment expenses and can’t be deducted as convention expenses. If the costs for these items are included in the convention fee, taxpayers can subtract $50 from the fee per day. For example, assume that you pay $600 to attend a three-day business convention, and lunch is included in the fee. The amount of convention expense you can claim is $600 – ($50 x 3) = $450.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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