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Your family business invested into a new car which you will use to distribute your products. You have decided to buy a brand new Ford

Your family business invested into a new car which you will use to distribute your products. You have decided to buy a brand new Ford Transit Connect Wagon (in the picture below) for 49,900 CAD. You have it adjusted to better suit your business needs for additional 7,500 CAD. You just signed the contract with the dealership yesterday. Your mum, who is the main owner of your family business and overseeing finances in your company, asked you to calculate depreciation for tax purposes for next 5 years

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