Are travel expenses tax-deductible for ...

[shocknawe]

Are travel expenses tax-deductible for attending a shareholders' meeting?

As a shareholder of various companies, I frequently get invitation notices to shareholders' meetings. It sure would be nice if my travel expenses could be tax-deductible.

[napoleonz]

I am no expert, but probably not. Anyone could be shareholders of tons of company.....traveling expenses to shareholder's meeting??!! If that's ok, I'll be buying 1 share of 1 company in all my vacation destinations....so I could have my 'traveling expense' deducted. :razz:

[mork]

I've always assumed so. I've never actually made such a deduction, so I have never actually looked in to it.

Such a deduction first occured to me when a stock I was following was repeatedly having meetings in nice tropical destinations. My assumption was that it was a way for shareholders to get tax-deductable vacations.

Travelling to an AGM to vote on an issue sure does seem like an expense associated with the investment afterall.

I'm curious to hear more on this topic.

[pitz]

I've heard something about one being able to add travel expenses under such a circumstance to their investments' ACB.

But I'm not 100% certain. I am fairly sure you can't just take it as a straight expense, but rather, it has to be capitalized.