Where to claim the car tools like electric car jac...

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
EnglishEN

Pick a language

Français English
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

Where to claim the car tools like electric car jack that I purchase?

 
1 Reply
Highlighted
Moderator

Where to claim the car tools like electric car jack that I purchase?

If you purchase tools and equipment that cost over $500.00, you cannot claim these as an "expense", instead you must depreciate them by claiming Capital Cost Allowance (CCA). 

When using TurboTax Self Employed Online version, as you proceed through the Self-Employment section of your tax return, you will come to the page that asks " did you have any fixed assets?" and you will be able to enter the information on your purchases. This asset will likely be placed in Class 8 - Equipment.

More information can be found here:

https://turbotax.intuit.ca/tips/capital-cost-allowance-explained-3952

v