Taxation And SC 'Services' In Canada
farmerart
All signs are pointing to the Canadian Supreme Court ruling in favour of the legalization of brothels. Prostitution is already decriminalized in Canada. My mercenary mind is contemplating these thoughts:
Can I run the services of extras girls as an entertainment expense in my tax return? Or all other SC fees for that matter?
If this ruling means the girls add the GST/HST to their fees and if I pay with a corporate card, can I claim it back through my company? (GST/HST is revenue neutral for corporations in Canada. Only the end consumer of a good or service is liable for the tax.)
How about a contract with a fav capitalized for, say 5 years? Claim the depreciating value of the contract against other capital gains I may have elsewhere? (Then, you all know what happens when an asset is depreciated to zero!)
My brain is buzzing with all the possibilities.
Can I run the services of extras girls as an entertainment expense in my tax return? Or all other SC fees for that matter?
If this ruling means the girls add the GST/HST to their fees and if I pay with a corporate card, can I claim it back through my company? (GST/HST is revenue neutral for corporations in Canada. Only the end consumer of a good or service is liable for the tax.)
How about a contract with a fav capitalized for, say 5 years? Claim the depreciating value of the contract against other capital gains I may have elsewhere? (Then, you all know what happens when an asset is depreciated to zero!)
My brain is buzzing with all the possibilities.
9 comments
Just make sure that you get a receipt from the ladies listing all services rendered.
Being self employed has it's advantages. If you were in this country you could write those expenses off legally and no one would care.