A recent trend that has seen some company drivers incorporate themselves has stirred controversy in the trucking industry.
The article, linked below, from the Canadian Trucking Alliance clearly outlines the tax implications for those drivers. The CRA’s response to the Drivers Inc. movement is to classify them as PSB’s (Personal Service Businesses) and as such are ineligible for any small business deductions.
Please read the article, and review their attachments to gain full understanding of what incorporated drivers need to know in order to file their taxes this year in Canada.
