Q:
If I have made annual payment for my gym membership and the period is from 1 November 2021 to 31 October 2022, can I claim lifestyle relief for Year of Assessment (YA) 2021? Do I need to prorate the annual subscription fee?
A:
Yes, you can claim the gym membership fee under lifestyle relief for YA 2021. You do not need to prorate the amount paid.
Q:
If I purchase an iPad with accessories such as Apple Pencil and keyboard, can I claim lifestyle relief for the whole amount?
A:
If the purchases are bundled as a package, i.e. one price for all items, then you may still claim the whole amount as tax relief. If the items are separated, then only the iPad is eligible for tax relief.
Wishing you plentiful tax savings!
Zen Chow
YYC Tax Guru
P.S. I've received a lot of tax questions, so now I am answering the frequently asked questions and sharing them with you weekly!
P.P.S. Do you want more tax saving tips? Because this is just the tip of the iceberg. Join my FREE tax livestream @ https://bit.ly/zen-taxlive