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I incorporated a small business in 2017. Where do I claim the incorporation costs on my personal tax return?

I don't have any startup costs other than incorporation costs.

My understanding is that I can claim that on my personal tax return.

Where or how do I do that?

1 Reply

I incorporated a small business in 2017. Where do I claim the incorporation costs on my personal tax return?

When you incorporate your business, it is considered to be a legal entity that is separate from its shareholders. As a shareholder of a corporation, you will not be personally liable for the debts, obligations or acts of the corporation. 

Therefore all expenses in regards to forming the corporation will be claimed on a T2 Corporation Tax Return, not on your personal T1 General Tax Return.