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posted May 1, 2023 11:32:21 AM

Where do i enter my vehicle monthly payments for self employed business

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1 Replies
Level 2
May 1, 2023 11:51:28 AM

Do you own this vehicle or is it leased?
You need to claim the vehicle under Vehicle expenses and add all the appropriate expenses (Under "Add a vehicle for Business")
If the vehicle is leased, then you can enter the information on "Leasing cost for the vehicle"

 

If you own the vehicle then you need to enter the details under Capital Cost Allowance for vehicle.
For class: If the vehicle was less than $30,000 not including tax at the time of purchase, its a class 10 vehicle.
If it is more than $30,000 its class 10.1
If it is a zero emission vehicle, its a class 54.