Question
Rosemary Peters is a sales representative for a curtain manufacturer. As part of her employment duties she leased a vehicle to travel to her customer's
Rosemary Peters is a sales representative for a curtain manufacturer. As part of her employment duties she leased a vehicle to travel to her customer's homes. Rosemary kept a log book for 12 consecutive weeks which indicated that she travelled a total of 30,000 kilometres during the tax year 2022-23, of which 22,000 were for visiting her customers.
During the year Rosemary incurred the following expenses in relation to her vehicle:
Registration and Insurance $1,500
Petrol $4,500
Servicing the vehicle $900
Lease expenses $15,000
Parking fines $200
Based on the above information, Rosemary's entitlement to a tax deduction for her car expenses for the 2022-23 tax year (rounded to nearest dollar) is;
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Rosemary can claim a tax deduction for her car expenses based on the portion of her car use related ...Get Instant Access to Expert-Tailored Solutions
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Introduction To Federal Income Taxation In Canada
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett
33rd Edition
1554965020, 978-1554965021
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