Deducting your business expenses

You can deduct any reasonable expenses you incur to earn your daycare income. It is important to know the difference between daycare expenses and your personal expenses.

Here is a list of expenses that are deductible:

• Advertising
• Business-use-of-home expenses
• Business taxes, fees, licences, dues, memberships, and subscriptions
• Capital cost allowance (CCA) for your daycare
• Field trips
• Legal, accounting, and other professional fees
• Maintenance and repairs
• Management and administration fees
• Motor vehicle expenses
• Office expenses
• Salaries, wages, and benefits
• Supplies

Forms and publications

• Guide T4002, Business and Professional Income
• Booklet P134, Using your Home for Daycare
• Form T2125, Statement of Business or Professional Activities

Date modified:

2017-01-03