Learn the tax laws people… The rich don't work harder, they just have better accountants
The Ontario College of Trades Fees of $135.60 (so you don't look like a disreputable contractor on their website if a customer looks you up) are tax deductible, a "Proud Sheet Metal Worker" points out.
By Steve Payne
The Ontario College of Trades (OCOT) is sending out $135.60 annual invoices to many categories of trade (in our industry, sheet metal workers, plumbers and electricians among them – you know, the guys who are ALREADY regulated, tracked and enforced upon). If you are one of those lucky trades, and you don’t pay this extra fee from this new “College,” goodbye to your Certificate of Qualification AND you will be listed as “Not in Good Standing” (or some similar wording) on the College’s website.
Our reader, Bryan, a union worker, loves it. As he says, no worries, it’s all tax-deductible…
“You all realize that the fees paid to the OCOT go against your income when you file your income taxes right? Professional Fees. Same as a doctor or lawyer pays. When your accountant asks you if you have paid fees to any professional organizations you can say yes. Certified trades have always been able to do this, even when it was $20/year to the MTCU (Editor’s Note: Ministry of Colleges and Universities – under the old system). Learn the tax laws people. It’s obviously in your best interest. The rich don’t work harder, they just have better accountants.
Signed, A Proud Sheet Metal Worker.”