ListingsNearbyReviewsWhat's NewTop 40ArticlesDiscussionsForumsUnpublished ReviewsUnpublished Articles

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.

9 comments

Latest

shadowcat
•
12 years ago
Art,

Just make sure that you get a receipt from the ladies listing all services rendered.
Alucard
•
12 years ago
What's Canada's version of the IRS? Better clear it with them!! LMFAO
windowsidiot
•
12 years ago
My mind is buzzing in another direction. If having sex is decriminalized in Canada why is touching the same pussy with your hand illegal?
canny
•
12 years ago
The IRS accepts strip club receipts as valid entertainment expenses and you can deduct them from your taxes. But, most companies frown on visiting strip clubs while you're traveling or entertaining customers and turning in the expenses for reimbursement.

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.
Ermita_Nights
•
12 years ago
I suspect Art's accounting department has no problem with whatever expense reports he wants to submit. Here in the States we need some kind of excuse to give the IRS. Submitting entertainment expenses when there are no clients, customers, or co-workers present is sometimes frowned on. I'm supposed to say who was present at the "meeting" and what the business purpose was.
Dougster
•
12 years ago
Well it's legal in Nevada and Australia so you could look there for ideas how it is treated taxwise. Canada might adopt those ideas later.
canny
•
12 years ago
Receipts from strip clubs aren't itemized so unless you only spend $20 or $30 there's no way to prove that you weren't with a customer or employee and farmerart never spends that little.
mjx01
•
12 years ago
@canny: most companies would object to employees expensing strip club visits. When it's your company, there's no morality police 'above' you. Itimizing definitly is an issue.
canny
•
12 years ago
@mjx01 I agree completely. If you own the company you can get away with it and it's a legal business expense. As an employee I'm not going to try to expense a strip club visit. No way!!
You must be a member to leave a comment.Join Now
Got something to say?
Start your own discussion