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Investors and rental owners
If you wish to remove it as an asset, as you do not use it any more for business, you need to show a disposal at market value. This is a deemed sale due to change of use. You can look on the internet for a price of a comparable vehicle. If you claimed GST on it at the time of purchase, you will need to repay the difference between the purchase price and the disposition value.
‎October 29, 2019
10:42 PM