RaphaelJarvis

Your approach seems on point, separate forms for each car, handling acquisitions and dispositions individually. The capital gain might need manual input; tax software can be a bit finicky. As for the immediate expensing rule (DIEP), the CRA usually requires it in the year of acquisition, impacting the marginal rate. It's a trade-off between immediate savings and long-term benefits. Check www.shipvehicles.com for potential insights into handling vehicle-related tax aspects.

Hey there. As far as I know, most people who retire do have taxes deducted from their CPP. Still, it's always a good idea to double check with a retirement calculator to see what the best option for your dad would be. The amount of taxes deducted depends on how much income your dad receives and what tax bracket he falls into. If you stop the deduction of taxes, it could potentially result in a larger refund or a smaller monthly income, so it's worth looking into. Good luck, and keep us updated.