Vehicle type - Depreciable asset classFirst, we suggest that you consult the following links to determine in which class of depreciable property a passenger car falls.
For the CRA:
For Revenu Quebec:
https://www.revenuquebec.ca/en/online-services/forms-and-publications/current-details/in-155-v/
Refer to page 24 of Guide IN-155 to determine if it is a passenger car.
Now there are four (4) classes for a passenger car.
Class 10: Cost less than $ 30,000. Does not include Class 54 zero-emission vehicles.
Allowable deduction is 30%.
Class 10.1: This category includes motor vehicles which are not zero-emission vehicles of Class 54 and whose cost exceeds $ 30,000 before taxes.
Allowable deduction is 30%.
Class 54: This category includes zero-emission vehicles which are defined as motor vehicles which are either fully electric or plug-in hybrid and equipped with a battery with a capacity of at least 7 kwh or powered entirely by hydrogen. The capital cost that you must use to calculate the CCA must not exceed $ 55,000 before taxes and acquired after March 18, 2019.
If you acquired a zero-emission vehicle at a cost of $ 65,000 before taxes, it is considered Class 54.
The half-year rule does not apply to assets in this class.
Allowable deduction is 30%.
Class 55: This class includes zero-emission vehicles. The vehicle was acquired after March 18, 2019.
The half-year rule does not apply to assets in this class.
If it had been acquired before March 18, 2019, it would have been of Class 16 or 18. See the definition of these classes at the following link:
https://www.revenuquebec.ca/en/online-services/forms-and-publications/current-details/in-155-v/
See page 38.
Allowable deduction is 40%.
ID: 20200214150231DE.xml
Webpage: KPA320-20200214150231DE.htm