How do I claim CCA on a new vehicle as an employee?
You qualify to claim Capital Cost Allowance (CCA) on a vehicle you own:
While you can't claim the total cost of the property in the year you bought it, you can qualify to deduct a part of the cost each year over a number of years.
Select your TurboTax product and follow these steps to enter the CCA for new vehicles into TurboTax:
- Answer the initial Personal info interview questions if you haven't already. This unlocks 2024 tax return
- From 2024 tax return, under Add to your return, enter employment and select Employment Expenses, then select Yes.
- At Employment Expenses Profile, select I received form T2200 - Declaration of Conditions of Employment from my employer… If you don’t have the form, you can’t claim employment expenses.
- At Employment Expense Profile, select the boxes applicable to your situation, including Motor Vehicle Expenses.
- At Employment Related Driving:
- Enter the vehicle info and the mileage driven info.
- Enter the required info under Enter the details of your vehicle if owned (not leased) and you want to claim Capital Cost Allowance (CCA).
- Select Done with Vehicles.
- Continue to Motor Vehicle Expenses Summary where you’ll see your CCA claim under CCA For Year.
- Select Find and enter employment in the search bar.
- Select Employment Expenses and select go.
- At Employment Expenses, check the box.
- At Employment Expenses Profile, select the checkbox for Motor Vehicle Expenses, then continue.
- At Employment Related Driving, enter the required info, then continue.
- Complete steps as needed and continue to Capital Cost Allowance (CCA). Enter the required info and select Done.
- Continue to Employment Expenses Summary, where the amount under Net Deduction will include your CCA claim.
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