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Can I claim insur, fuel, cca, lease paymt's/t2200 -fixed amt rec'd and per k rec'd and amt included in t4 so i'm being taxed right? Can I claim more?
October 30, 2019
2:50 AM
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Self-employed
Information is here on what you can claim. Be aware that you cannot claim CCA on a lease vehicle. Also, since CRA is quite rabid about employment expense, make sure you have a log to prove your mileage and expenses are business related. If the vehicle is for personal use as well, you need a way to calculate the percentage of business and personal.
October 30, 2019
2:50 AM
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Self-employed
Thank you very much! I have mileage log. Is it ok to include the receipts for insurance and fuel and then show the amount that they reimbursed. Maybe the difference is what I get back?
October 30, 2019
2:50 AM
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Self-employed
Exactly. Best to do a spreadsheet, like Excel, to total it all up, and then keep it with your recipts and log in case they ask for the support.
October 30, 2019
2:50 AM
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Self-employed
Exactly. Best to tally everything up on a spreadsheet like Excel, and then keep it with the receipts and the log in case CRA asks to see it.
October 30, 2019
2:50 AM
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Self-employed
ok thanks Dephision, good to know about the lease and CCA, geeze. not fair but ok...so yes I took the amount that was on the t2200 total was say 10k I forget, total car expenses and then I took the receipts and put them in and the difference was minor but allowable I guess.
October 30, 2019
2:50 AM