Your weekly dose of tax knowledge - become tax savvy in just 2 minutes!
Q: Can company claim tax deduction for director's optical expenses?
A: The company can claim tax deduction for the director’s optical expenses incurred if this expenditure is incurred as a staff benefit in accordance to the employment contract or employee’s handbook. However, this should be declared in the Form EA of the director as a taxable perquisite.
Wishing you plentiful tax savings!
YYC Tax Guru