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Q: I am a sole proprietor. I bought a personal computer for business purposes. Can I claim lifestyle tax relief for this purchase?
A: No. You are not entitled to claim lifestyle tax relief for a personal computer used for business purposes. However, you may claim capital allowance against your sole proprietorship’s business income on the cost incurred for the personal computer.
Wishing you plentiful tax savings!
Zen Chow
YYC Tax Guru