My wife and I took out a loan to pay for the residency card, and we also have a lease agreement from last year. Are these two items related anywhere in the tax return?
My wife and I took out a loan to pay for the residency card, and we also have a lease agreement from last year. Are these two items related anywhere in the tax return?
Yes, if you lease a vehicle for business or employment purposes in Canada, you can deduct a portion of your lease payments on your taxes, with limits based on the vehicle's value and lease terms. To confirm information about loan payments, we suggest contacting CRA.
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