I am not self employed - but I bought a motor vehicle for earning rental income and for personal use. Can I claim the cost of purchasing my car (less tax) as a CCA?
I am not self employed - but I bought a motor vehicle for earning rental income and for personal use. Can I claim the cost of purchasing my car (less tax) as a CCA?
I am not self employed - but I bought a motor vehicle for earning rental income and for personal use. Can I claim the cost of purchasing my car (less tax) as a CCA?
No, you are unable to claim the cost of your vehicle as Capital Cost Allowance (CCA) for motor vehicles is not an eligible deduction on the T776 - Statement of Real Estate Rentals.
You can claim these costs related to your vehicle:
fuel and oil cost
maintenance and repairs
insurance
licence and registration fees
eligible interest on money borrowed to buy a motor vehicle
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