Golf as an allowable business expense
NAGA (National Allied Golf Association) has been discussing golf and taxes for a while but the issue has recently been gaining momentum in the press and with the launch of NAGA’s nation-wide lobbying effort. Currently golf is not an allowable business entertainment expense as many other outings are such as 50% of restaurant meals and box seats at a hockey game. “A 1972 law designed to crack down on tax abuses prevented golfing, yachting and hunting lodges in particular from being tax-deductible, so that the wealthy could not put personal luxuries on expenses.” NAGA is hoping to change that.
In the Press
January articles in the Wall Street Journal (January 3rd) and The Economist (January 14th) discuss the issue in detail and are good reads to bring you up to speed if you have not been following the issue.
A good walk amortized – Putters aflutter – Canadians debate tax and golf – The Economist, January 14th , Toronto
“Canadians Push to Make Golf Tax Deductible” – Wall Street Journal, January 3rd, Ottawa
NAGA Advocacy Kit
On January 9th NAGA launched it’s next step in their lobbying effort. This strategy is a grassroots initiative by the entire Canadian golf industry to influence as many Members of Parliament (MPs) as possible. NAGA has provided the various documents necessary for a successful visit with your Members of Parliament.
“Although it won’t be easy, a united effort by the Canadian golf industry can indeed correct this unfair taxation matter. The result would then be increased demand for golf from the corporate sector, something that we all need and deserve on the basis of fair competition with other industries.” – NGCOA Canada
We will be following this issue as it evolves and will post further updates.