Whether you are employed or self-employed, when you receive sales commissions you can reduce your taxes payable by claiming eligible business expenses when filing your personal taxes, including:
– Advertising and promotion
– Meals and entertainment
– Vehicle and travel
– Equipment and supplies
– Home office, etc.
If employed, your employer must complete form T2200 ‘ Declaration of Conditions of Employment’ before you can claim these expenses on your personal tax return.
If you are self-employed with a registered GST/HST account you will be able to reduce the GST/HST payable by the amount of GST/HST you have paid on eligible business expenses, therefore, reducing the amount you actually pay on these purchases.
