I've tried entering 2 vehicles, but TT seems to be calculating a reduced CCA amount for one of the vehicles, and nothing for the other.
Vehicle #1
- Purchased Feb 2016 for $42,554 ($38,026 before tax)
- Used from June-Dec 2016 for business
- The field for CCA amount says I can only claim $1,900.12 when UCC amount was entered as $42,554
Even if I calculated this as UCC $33,600 ($30K + GST/PST), wouldn't it be:
$33,600 / 2 = $16800
$16,800 / 12 months = $1400
$1400 x 6 months (June-Dec) = $8400
$8400 @ 30% = $2520
Vehicle #2
- UCC at beg. of year = $705.89
- Used from Jan-June (The car broke down, and I transferred title/ownership of car for $0. Was told by an accountant to record disposing of it for $1.)
- The field for CCA amount (which TT is supposed to automatically populate) was blank, but allows me to enter this amount manually: $105.89
$705.89/12 months = $58.82
$58.82 x 6 months (Jan-June) = $352.95
$352.95 @ 30% = $105.89
1) Why is TT coming up with $1,900.12 for V#1, and blank for V#2?
2) Does the order in which I list the vehicles matter?
3) Also, I don't have business partners, but when I enter vehicles as "for my usage only" instead of "used by all partners", my expenses don't seem to be accounted for.
Please advise!
Thanks in advance.
