Hi,
I've been offered a short-term position by an Irish company. So the arrangement would be that I would set-up a limited company that I would be the sole director of and pay myself a salary from the company.
The position itself involved carrying out work in Canada. The duration is a minimum of 6 weeks however it may be extended and could last as long as 12 - 24 months. There may be occasions where I have to travel back to Ireland on business for short stays (1 / 2 weeks). Either way, I will be staying in Canada even if the position is not extended so I will be a Canadian tax resident for this year and the next and I would most likely seek a permanent position in Canadian working for a Canadian based company. I have a Canadian Visa called an IEC Working Holiday Visa and I am entitled to live and work in Canada for 2 years.
What I want to know is can I consider the cost of my flights to Canada, cost of flights back to Ireland, my accommodation costs while there and a subsistence rate as a company expense?
The maximum subsistence rates decrease as the duration of the stay increases but let's just say that this will fall into the category of a long-term absence.
From Revenue website:
Long term absence
A long term absence will be more than six months.
I've been offered a short-term position by an Irish company. So the arrangement would be that I would set-up a limited company that I would be the sole director of and pay myself a salary from the company.
The position itself involved carrying out work in Canada. The duration is a minimum of 6 weeks however it may be extended and could last as long as 12 - 24 months. There may be occasions where I have to travel back to Ireland on business for short stays (1 / 2 weeks). Either way, I will be staying in Canada even if the position is not extended so I will be a Canadian tax resident for this year and the next and I would most likely seek a permanent position in Canadian working for a Canadian based company. I have a Canadian Visa called an IEC Working Holiday Visa and I am entitled to live and work in Canada for 2 years.
What I want to know is can I consider the cost of my flights to Canada, cost of flights back to Ireland, my accommodation costs while there and a subsistence rate as a company expense?
The maximum subsistence rates decrease as the duration of the stay increases but let's just say that this will fall into the category of a long-term absence.
From Revenue website:
Long term absence
A long term absence will be more than six months.
- For the first month of the absence you can allow subsistence for the overnight rate. This is to facilitate the employee to find self catering accommodation.
- For the remainder of the absence you can allow subsistence costs and a portion of the ten hour day rate. The subsistence cost can cover the cost of reasonable accommodation. You can allow 50% of the day rate (ten hours) for the location.