Can financed car payments be claimed? I started a...

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Can financed car payments be claimed? I started as a real estate agent mid year and thought I could put in my car payments but I'm not sure where to put them?

 
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Highlighted
New Member

Can financed car payments be claimed? I started as a real estate agent mid year and thought I could put in my car payments but I'm not sure where to put them?

Monthly car payments when financed cannot be deducted as an expense.

Financed vehicles are eligible for capital cost allowance deduction based on the purchase value. Add the vehicle on the business statement T2125 indicating the date of purchase and purchase price.

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