taxesaretaxing Posted June 24 Report Share Posted June 24 First year working in a commission compensation structure at a new company. Purchased a vehicle in May 2023 for this role, use it approx 70% work and 30% personal. I've added a 'purchased vehicle' tab under motor vehicle expenses in the interview but am a bit lost as to how to properly enter my information. I understand that as the vehicle is partially used for personal use, the deductions are pro-rated - do I need to calculate that prior to entering them into the boxes in the interview (such as "maintenance and repairs for the year")? Let's say the vehicle I purchased was 20,000 and used from May - Dec... my understanding would be that I can claim the following as CCA: 20,000x30%=6,000 /2 (for half year rate) = 3,000 x 70% (prorate for 30% personal use = 2100. Where do I enter this amount? Thanks for any help in advance! Quote Link to comment Share on other sites More sharing options...
Geo123 Posted June 25 Report Share Posted June 25 Hello taxesaretaxing, Yes, you are correct. Interview >> Motor vehicle expenses >> Purchased motor vehicle Vehicle information *Model of vehicle [CCA Addition] *Make of vehicle [My_Car] *Purchase date of the vehicle [01-01-2023] *Kilometres travelled to earn employment income [7] Total kilometres you drove in the tax year [10] CCA class *CCA class of the vehicle [Class 10 - 30%] *Opening balance of the undepreciated capital cost [NULL] Vehicle acquisition during the year *Description and amount of capital additions (other than AIIP): [My_Car] [$20,000.00] *Description of the vehicle [My_Car] *Adjusted cost base of the vehicle [$20,000.00] > T777 - Employment expenses p2 Capital cost allowance (see Parts A and B on pages 4 and 5) $3,000 Line 20 multiplied by line 29 Employment-use portion = $2,100 30 > Quote Link to comment Share on other sites More sharing options...
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