Investors and rental owners

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Yes, you can deduct vehicle expenses when the automobile allowance is a taxable benefit and is reported on your T4 slip in box 40. In the end, this amount added to your net income, so you can claim any eligible expenses to offset this income.

Please read this article for more information:https://turbotax.intuit.ca/tips/employment-expenses-what-motor-vehicle-expenses-can-you-claim-12004