Your weekly dose of tax knowledge - become tax savvy in just 2 minutes!
Q: I have paid for a one-year newspaper subscription fee. The subscription period is from April 2021 to March 2022. Do I need to apportion the amount according to the year while claiming lifestyle relief?
A: You can claim the full amount based on invoice date without needing to apportion the amount.
Wishing you plentiful tax savings!
Zen Chow
YYC Tax Guru