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Can I claim a horse bought and used for riding lessons in a self-employed business? What CCA class do I list its purchase price in?

 
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New Member

Can I claim a horse bought and used for riding lessons in a self-employed business? What CCA class do I list its purchase price in?

I do not believe you can claim CCA for a live animal.  You can claim the entire cost of purchasing the animal to be used in business in the tax year that you purchased it and each year you can claim all of the expenses for the horse such as feed, vet bills, farrier fees etc.

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Highlighted
New Member

Can I claim a horse bought and used for riding lessons in a self-employed business? What CCA class do I list its purchase price in?

I do not believe you can claim CCA for a live animal.  You can claim the entire cost of purchasing the animal to be used in business in the tax year that you purchased it and each year you can claim all of the expenses for the horse such as feed, vet bills, farrier fees etc.

View solution in original post