Hi, thank you for Using TurboTax AnswerXchange
The calculation for the above scenario is shown in a screenshot in the attachment. The depreciable amount is a maximum of $30,000+ HST/GST. The ending UCC is $29,318.62 and that is therefore the opening UCC in the following year. The claim for the year is a maximum of $5,173.88 (for an Ontario resident). The portion of that amount that can be claimed as an expense on a tax return depends how much the vehicle is used for business vs personal. If used 50% for business, $2,586.94 can be claimed.
This follows the Canada Revenue Agency rules. For more information review the following link:
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-re...
Hope this helps
