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How do I claim CCA on a new vehicle as an employee?

by TurboTax Updated 1 week ago

You qualify to claim Capital Cost Allowance (CCA) on a vehicle:

While you can't claim the total cost of the property you may deduct a percentage of that property’s costs.

Follow the applicable steps provided to enter the CCA for new vehicles into TurboTax:

  1. From the menu, select Income, then Self-Employment, and then Self-Employment Profile.
  2. Fill out your Self-employment Profile.
  3. When you arrive at the Did you have any work-related vehicle expenses? screen, select Yes, then Continue.
  4. You'll be brought to Your Vehicle Expenses Summary. Select Add a Vehicle for Business Use.
  5. Fill out applicable information on the form provided, then select Continue.
  6. You'll be brought back to Your Vehicle Expenses Summary. Select Done with Vehicles.
  1. From the menu, select INCOME & EXPENSES, then Employment expenses.
  2. On the Employment expenses screen, select Yes.
  3. On the Employment Expenses Profile, select the checkbox that applies to you, then select Continue.
  4. Select the checkbox for Motor Vehicle Expenses, then select Continue.
  5. Fill out the section on Employment Related Driving, then select Continue.
  6. Fill out the section for Other Automobile Expenses, then select Continue.
  7. In the Sales Tax on your Automobile section, select whether you paid HST, GST, or no sales tax, then select Continue.
  8. Once all information has been entered properly, TurboTax will automatically calculate the available CCA for your vehicle.