2017 Automobile Deduction Limits and Expense Benefit Rates for Business

The ceiling on the capital cost of passenger vehicles for capital cost allowance (CCA) purposes remains at $30,000 (plus applicable federal and provincial sales taxes) for purchases after 2002. This ceiling restricts the cost of a vehicle on which CCA may be claimed for business purposes.

The limit on deductible leasing costs remains at $800 per Read More

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By |February 3rd, 2017|Small Business Tips, SmallBiz Builder, Tax Tips|

2015 Automobile Deduction Limits for Business

The ceiling on the capital cost of passenger vehicles for capital cost allowance (CCA) purposes remains at $30,000(plus applicable federal and provincial sales taxes) for purchases after 2002. This ceiling restricts the cost of a vehicle on which CCA may be claimed for business purposes.

The limit on deductible leasing costs remains at $800 per month(plus Read More

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By |February 6th, 2015|Small Business Tips, SmallBiz Builder, Tax Tips|