Financial
Can I write off Fines & Penalties in Canada?
NO
Explanation
It is against the law to deduct government-imposed fines and penalties. This includes speeding tickets, parking tickets, and CRA tax penalties, even if you were 'on the job' when you got them.
💡 Pro Tip
The only exception is usually penalty interest charged by a bank or supplier for late payment (which is a contract charge, not a law violation), which may be deductible.