I purchased a truck in 2018 (paid cash) for the purpose of using it for my small business that I was preparing to start up. But I didn't end up starting my business until 2019. I did not try claiming anything during last year's tax season, but I am wondering if and how I can claim expenses (depreciation, insurance, repairs/maintenance, etc) for this year's return? I am a sole proprietor in Ontario.
You will start claiming it for 2019 when your business started if you qualify you will claim CAA for your vehicle and here is how.
As per CRA -Motor Vehicles not included in CAA, and If you can claim CAA for your vehicle
HelloThere9
New Member
Iosif
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kristenbrutto87
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Independent Tax Filer
Level 3
Independent Tax Filer
Level 3
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