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What is a Convention, and why is it important to document it correctly?

Currently you have no opportunity for you to attend an organized convention by an association, group or franchise. Now you can attend your own small self-directed convention retreat. The Canada Revenue Agency encourages you too; twice a year. Defined as 'a group of meetings applied to an agenda that is specifically designed for your business and discussions all about your business.' Now, traveling away from the day-to-day activities of your business off-site, for the betterment of the business, is possible and deductible! 

Enjoy the tax deductions awarded to your business. When you become a Subscriber to mbctools.com or c2online.ca and utilize Convention Too, your attendance, your participants attendance and the discussions that occurred are recorded and stored. As a member, we not only support your business objectives but we assist you have all the necessary documentation to support the criteria for your convention travel expense claims as defined by Revenue Canada below.

- held by a business or professional organization

- attended in connection with the taxpayer's business or professional practice, and

- held at a location that may reasonably be regarded as consistent with the territorial scope of the organization.



Convention Too


With the Convention Too Builder online platform, we make sure that you have all the necessary paperwork to support your expense claim for the deduction. Rest assured that the report provided is tax law considered. We now represent you and your business to help ensure you qualify for the deduction. Learn more about the Convention deductions here - Link to the IT131R2 - Convention Expense



Attendance at the Convention

You must attend your own convention for the betterment of your business and a reasonable amount of your day must be devoted to your convention meetings.



Tax Advisors

Contact us for assistance in locating an advisor specific to your needs.


Canada Tax Criteria - Conventions
 
1. Does your business file taxes in Canada?

If Yes, then proceed to Question #2

If No, the United States is the only other country at this time we may provide your convention qualifier, if you are not from Canada or United States, please contact your own tax practitioner to determine if you may utilize Convention Business Travel packages as a tax deduction.

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2. Is your convention being held by a business or professional organization?

If Yes, then proceed to Question #3

If No, then please contact your tax practitioner to determine if your convention costs may still be deductible for tax purposes.

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3. Does your convention plans involve travel?

If Yes, then proceed to Question #4

If No, please note that although your cost for Convention Business Travel agendas may be simply claimed as a supply expense for tax purposes, the income tax assessment process allows for travel costs to be part of any business convention plans. You must explore the opportunity to obtain objectivity and betterment of your business or job description by increasing the distance between your convention and the normal routine of your business or job description.

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4. Is it your intent to better your business by attending a convention?

If Yes, then proceed to Question #5

If No, then you may not enjoy possible tax deductions awarded to you or your business if you chose to attend a convention with out intent for business purposes or betterment. Do visit your tax practitioner to explore opportunities to claim travel expenses.

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5. Will your convention have an agenda with detail topics that will benefit your business or job description?

If Yes, then proceed to Question #6

(Note: Convention Too Tool provides you an agenda that you can create your own topics and/or you can utilize Agenda Packages preloaded with discussion topics specific to the needs of your business.)


If No, then you may not enjoy possible tax deductions awarded to you or your business if you chose to attend a convention with out an agenda. Do visit your tax practitioner to explore opportunities to claim travel expenses.


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6. Is it your intent to record your attendance to the convention agenda?

If Yes, then proceed to Question #7

(Note: The Convention Too Tool automatically records and reports all attendance.)


If No, then you may not enjoy possible tax deductions awarded to you or your business if you chose to not record your attendance to the convention on an agenda. Do visit your tax practitioner to explore opportunities to claim travel expenses.

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7. Is it your intent to keep the paperwork of the convention agenda with attendance and all receipts for claim on your taxes?

If Yes, then proceed to Question #8

(Note: Convention Too Tool records all discussions, time and participants and stores the report for your convenience.)


If No, then you may not enjoy possible tax deductions awarded to you or your business if you chose to not keep your records and your attendance to the convention agenda. Do visit your tax practitioner to explore opportunities to claim travel expenses.

RC4409 - Keeping Records

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8. Is the time of your normal work day going to be the daily time devoted to the betterment of your business at the convention?

If Yes, then proceed to Question #9

If No, then consider including more agenda topics or tasks that provide betterment to your business or job description. Please do contact your tax practitioner to determine if 100% of your travel would still be deductible may you chose to decrease your hours of your normal work day while on convention.

IT357R2 - Expenses of Training

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9. Is the travel destination for the convention within your geographic area of business dealings or in the area of the organization sponsoring the convention. Is the content of the convention only available at your current travel destination? Is the location within Continental North America? Is the cost to attend less than if you attended a convention in Canada?

If Yes, then proceed to Question #10

If No, then please contact your tax practitioner to determine if your convention costs may still be deductible for tax purposes.

IT131R2 - Convention Expense

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10. Is the convention planned on a cruise ship? Is the cruise ship a vessel registered in the United States or Canada? Are the expenses reasonable in attending the convention in another area or country than your business and sponsored by an organization of that area or country and is topics related to your business or professional practice?

Will you be provided a written statement signed by you and the organizer on the attendance record?

If Yes, then proceed to Question #11

If No, please contact your tax practitioner to determine if your travel destination and costs may still be deductible for tax purposes.

Convention between Canada and the United States Article XXV

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11. Do you have a tax practitioner to discuss various business plans?


If Yes, always consider the importance of your tax practitioner opinion. Consult with your tax practitioner to ensure you are compliant for tax purposes.

If No, please contact a tax practitioner today.
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