Employed Trades person’s Tools Deduction Program
This program is a Government of Canada funded program which allows an employed skilled trade’s person to apply for a credit at tax time on tools purchased during the prior year.
The conditions surrounding this program are that the tools, need to total over $1095 and the trade’s person must have proof of purchase, with the maximum refund available being $500. Essentially is a trade’s person fully qualifies they could receive almost half the money back that they spend on their tools.
This program has been initiated to reward employed workers, and to offset some of the costs of purchasing tools needed to complete the job.
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