I have a corporation that I plan on paying myself entirely through dividends. Can I claim motor vehicle expenses (as well as others) as employment expenses, as my corporation's employee? Or would the corporation need to pay me a salary to be classified as an employee? I rather not use the mileage method in my case, if possible.
You cannot claim employment expenses since you are not an employee. You can claim a business portion of CCA, fuel, insurance, and repairs for your personal vehicle. Be prepared to show how the business portion was calculated. You could still be expected to prove the business portion via vehicle log.
You cannot claim employment expenses since you are not an employee. You can claim a business portion of CCA, fuel, insurance, and repairs for your personal vehicle. Be prepared to show how the business portion was calculated. You could still be expected to prove the business portion via vehicle log.
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