Seasoned long haul truck drivers soon learn the value of using an accountant to help them keep track of their expenses as many of these while on the road have an effect on their income tax submissions. Quite often new drivers are now aware of the need for a quality accountant as they have yet to experience how complicated tax matters can be for them.
Every long haul truck driver is faced with a variety of expenses while on the road, and much to their dismay in some cases their employer’s do not cover these costs. Meals have to be purchased. Facilities have to be found for showering and personal needs. In most cases long haul drivers sleep in the cabs of their trucks, so accommodation is not usually an ongoing expense.
There are other types of transportation employees that also have expenses, but the CRA views some of the long haul truck driver expenses a little differently. This means first off that you must qualify as a long haul truck driver. Starting with the vehicle you drive it has to be considered a long haul truck which is one designed to transport freight, and has a gross weight rating of at least 11,788 kg. When it comes to the company that you work for it doesn’t matter whether their main business is transporting passengers or goods, as long as your primary duty as an employee is driving what is classed as a long haul truck.
As a long haul driver there are eligible periods that you can claim up to 80% of your meal and beverage expenses.
This means the driver must be astute at keeping a record of all the expenses, and the receipts as well. You also need to maintain your log book so you have proof that you met the eligible travel period. That is if they want to claim these expenses against their trucking income.
You also have to know what is classed as a eligible period. This consists of being away from your metropolitan area for at least 24 hours for the purpose of driving a long haul truck. You have to be hauling those goods at least 160 km. away from your employer’s location.
The tax laws for long haul truck drivers are just as complex if not more so than for any other tax payer. For this reason you want to have a good accounting expert to use to help you set up the tracking of your expenses properly, and to assist you with your tax filing.
