(Self-) Employment Expenses: Allowable Automobile Expenses printable pdf download

(Self-) Employment Expenses: Allowable Automobile Expenses

-) E

: A

ELF

MPLOYMENT

XPENSES

LLOWABLE AUTOMOBILE EXPENSES

(Please fill out excel spreadsheet on our website at )

(if claimed on employment income, you must provide a Form T2200 signed by your employer)

For each vehicle, provide the following:

Vehicle A

Vehicle B

Vehicle C

Make of automobile

__________

Date acquired

_____, 20

Manufacturer Suggested Retail Price (MSRP)

$ _____

Number of Km driven to earn (self-)

employment income (you must

exclude km’s to/from your home)

Total Km driven in the year

Expenses:

Fuel

Interest and finance charges (certain limits apply)

Insurance

Licensing or registration

Maintenance and repairs

Leasing costs (certain limits apply)

Other (Please specify):

For each vehicle purchased or leased during the year, it is extremely important that you provide the following:



Make and year of vehicle;



Cost before HST, PST;



Amount of HST and PST;



Trade-in amount (if applicable);



Year and make of vehicle traded-in;



If possible, please provide a copy of the purchase or lease documents.

Total amount reimbursed by employer for vehicle during year (N/A if self-employed)

REMINDER: Remember that the CRA requires you to keep a detailed log outlining dates, number of

kilometres, and destinations to allow for a deduction of vehicle expenses.

(Self-) Employment Expenses: Allowable Automobile Expenses

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