PROFESSIONAL MEMBERSHIP DUES

In a March 5, 2015 Technical Interpretation (2014-0530691E5, Baltkois, Thomas), CRA noted that Subparagraph 8(1)(i)(i) provides a deduction in computing income from an employment for annual professional membership dues, the payment of which is necessary to maintain a professional status recognized by statute. Generally, the deduction is only allowed to the extent that the professional membership dues reasonably relate to the individual’s employment income.

For further information see VTN Monthly Tax Update Seminar, Issue No. 407