Employment expenses - Leased motor vehicle expensesYou can deduct expenses you paid to operate a motor vehicle you use to earn employment income.
We assume that you have already completed the "Employment expenses" page and that you now want to complete the "Motor vehicle expenses" subsection.
1. On the "Left side menu on the Interview tab", in the "Employment expenses" section, choose the "Motor vehicle expenses" subsection and in the page to your right, click on plus sign "+" icon located to the right of the line "Leased passenger vehicle".2. On the first part of the "Leased passenger vehicle" page, enter the information about your vehicle.
3. For the "Manufacturer's suggested retail price" line, please indicate the vehicle's retail price excluding taxes, as well as the dates of the start and end of the lease, this information is mandatory.
4. For the line "Total lease charges in the current year", enter the total amount of the rental charge for the taxation year, including taxes.
5. For the line "Lease payments already deducted in prior years", enter the total amount you claimed for this vehicle before the current tax year;
6. To determine the part of the expenses applicable to your employment, enter the "Kilometres travelled for business or work" and the "Total kilometres travelled" throughout the tax year.
7. In the "Motor vehicle expenses" section, enter the expenses incurred for the vehicle.
8. If you received an allowance for vehicle expenses, during the tax year, go to the line "Allowance received for motor vehicle expenses (excl. CCA & interest)", and enter the amount received.
NOTE: We recommend that you keep a record of all expenses and a daily mileage log of your vehicle.
For more information on employment expenses, please visit the following links:
https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4044.html
For Quebec residents, please visit the following links:
https://www.revenuquebec.ca/en/online-services/forms-and-publications/current-details/in-118-v/
The program will transfer the amount for the vehicle expenses on line 9281 of the federal form T777 and for Quebec residents on line 5 of Form TP-59.
The amount for your employment expenses will be reported on line 22900 of the federal return and for Quebec residents to line 207 of the Quebec return.
ID: 20201021105122NA.xml
Webpage: KPA350-20201021105122NA.htm