鲜花( 0) 鸡蛋( 0)
|
if I didn't guess your situation wrong, you will be better off to buy the car under your name, instead of under company's name.
, |! ]* Z9 i; ^3 p
3 F1 @" X( u7 Z. Oit is correct that if the car is bought under company name, the cost of the car payment can be deducted from the business income, however there is a trap, C" }% L" @9 \ j5 @
the trap is, if the car is used by you or your family member for the purpose of none business related purpose, then that portion have to be reported as your income.0 v4 r$ k0 X: x/ U; j' t: ^
so you end up with have to record every single kilemeter of the car driven, when the car is driven and for what purpose. CCRA is very harsh on this, basically any unexplainable mile driven will be considered as your pleasure usage and will be treated as your personal income.
: X. _8 F, h/ o4 N( d0 m7 S1 r
3 s, V! i. Q B& v( p8 W% ]if you bought your car under your name, you can always claim any mileage you driven for business purpose. I don't remember exact the figure but something like every kilometer you can claim 42 cent or so as your business expense. so it is much easier position to be with to claim any car usage.: ]* Z: E) C- M z7 L9 B& m
- L! h" [/ ]$ a" g# s9 W- ^
let me konw if you need more explaination./ f7 V1 r; m2 p4 q3 h
3 f/ F) ]+ o0 M
% H3 K2 m# m; ?
have fun |
|