Line 8690 - Insurance

You can deduct all ordinary commercial insurance premiums you incur on any buildings, machinery, and equipment you use in your business.

The insurance costs related to your motor vehicle have to be claimed as Motor vehicle expenses.

The insurance costs related to business use of work space in your home have to be claimed as Business-use-of-home expenses.

In most cases, you cannot deduct your life insurance premiums.

Forms and publications

• Guide T4002, Business and Professional Income
• Form T2125, Statement of Business or Professional Activities

Related topics

• Line 9281 - Motor vehicle expenses
• Line 9945 - Business-use-of-home expenses