Income Tax Help

[true#1center]

I work in the oilfield and get paid meal sub. I heard that people have claimed the portion that they were not given on income tax time. I was wondering if this is possible? We are given 40$ when over night and I heard that the company is given 58$ or so. Am I entitled to that other 18$?

[GP_Matt]

Most companies have a markup on everything. It covers the times when your meals are not recoverable and the company still has to pay them.

I have never heard of anyone claiming the difference though.

[Bring_Back_Shantz]

No reason you would have to claim it.
It's Income Tax, not "Rate you were billed out at" tax.

[puckedoff]

Being "entitled to that other $18" sounds like it would only raise your tax bill. I would not claim it if I were you, why claim income you never received?

[Northendzone]

^ claim income you never received as a capital loss

[calgarywinning]

I don't think you can actually claim something that wasn't expended. All accounting, including taxes is about what was actually expended.

Also, the company is writing of the meal subs as a cost of business, so in you attempting to write it off it becomes a double write off which the CRA would not allow.

[squiggs96]

In before Locke!

Also, why would you want to claim the $18 as income that you weren't given. That's just raising your income and taxes for money you never received.

[Locke]

Originally Posted by squiggs96

In before Locke!

Also, why would you want to claim the $18 as income that you weren't given. That's just raising your income and taxes for money you never received.

Curses! I was too caught up in the "Great Evander Kane Debacle of 'ought 15."

Originally Posted by true#1center

I work in the oilfield and get paid meal sub. I heard that people have claimed the portion that they were not given on income tax time. I was wondering if this is possible? We are given 40$ when over night and I heard that the company is given 58$ or so. Am I entitled to that other 18$?

Are you actually asking if you can take the $40 you're paid and then go to your company and ask them to pay you the outstanding $18? I'm not quite clear on what you're asking so I'm going to make a few assumptions:

I dont know exactly where you got the $58 number, I do know that the standard allowable rate for the transport industry is $51/day, but thats a meals deduction and not a subsidy payment and not relevant outside of the transportation industry.

If its just a daily meal subsidy for out of town work then the answer is no.

So, based on my assumptions here is your answer:

If you are entitled to the $51/day meal deduction as outlined in the eligible transportation industry regulations but your company pays you a $40 per day meal subsidy then yes, you may deduct the outstanding amount.

If you are not eligible for deductible meals as a transportation employee then no. You're screwed.

Speaking of screwed.....my invoice has been PM'ed!