Tax Implications of Psychiatry Review Course conferences

Psychiatry Review Course / Psychiatry Conference / Medical Conferences for Physicians

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TAX INFORMATION

We frequently get asked questions by attendees regarding the tax implications of attending our CME conferences. If you intend to combine a trip with a medical conference and are planning to deduct expenses incurred, you should be aware of specific rules that Canada Revenue Agency has regarding deducting conference/convention expenses, especially when travel is involved. While Revenue Canada rules are presented below for your information, we cannot provide tax advice to individuals.

According to Revenue Canada, self-employed taxpayers who are carrying on a business or practising a profession may deduct expenses incurred in attending not more than two conventions a year provided that the conventions were:

(a) held by a business or professional organization;

(b) attended in connection with the taxpayer’s business or professional practice, and;

(c) held at a location that may reasonably be regarded as consistent with the territorial scope of the organization.

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It is important to keep in mind that for expenses to be legitimately claimed as deductible, conditions (a), (b), and (c) above must all be satisfied. In that regard, deductions can be made only for expenses paid for attending conferences at locations consistent with the "territoral scope" of the sponsoring organization. The term “territorial scope” refers to the geographical "area in which the particular organization ordinarily conducts its activities" [i.e. Canada, where the organization is national in character; or a particular province if the sponsoring organization is provincial, etc.]. You should therefore be aware of what the territorial scope of the sponsoring or co-sponsoring organization(s) would reasonably be considered to be.

The territorial scope of Psychiatry Review Course is international in nature, and not national, provincial, or regional; nor are our international conferences cosponsored by organizations with a national, provincial, or regional territorial scope.

Information presented is not meant to substitute for tax or financial advice for any particular individual, and for individual circumstances we always advise checking with your own personal accountant or tax advisor for advice.

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