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Mr. O's employer requires him to use his own vehicle for work and pay all of the vehicle's operating costs. Mr. O. is not paid
Mr. O's employer requires him to use his own vehicle for work and pay all of the vehicle's operating costs. Mr. O. is not paid commissions. Mr. O. purchased a vehicle on July 1, 2020 for $37,290 including HST. Mr. O. drove this vehicle 25,000 kilometers, of which 15,000 were for work. The capital cost allowance for 2020 is $15,255. During the 6 months he owned vehicle he paid: bank loan interest $1,950 1,840 maintenance 300 insurance 1,400 licence plates 100 gas and oil Required: Calculate the amount Mr. O. can deduct from employment income. Show all calculations
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