malpractice insurance tax deductible
Professional liability insurance is tax deductible? – Canada?
Please read carefully: Under Revenue Canada, the line 212 which "the professional or malpractice insurance premiums for liability or professional membership dues required to maintain a professional status recognized by law "if http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns206- Now 236/212/menu-eng.html .. I am working as an employee of the health and is an option for me to obtain liability insurance provided by my professional association, is the liability insurance tax deductible?
No, should be required. If you are a contract worker, ie self-employed, the insurance claimed it would be an expense against their income on Form T2125. If you are salaried, you are covered by the political responsibility of the employer and therefore have their own insurance, it is considered essential not CRA, therefore not deductible.
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