| Protected B when completed | |||||||||||||||||||||||||||
Chart A – Motor vehicle expenses |
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| Kilometres you drove in the fiscal period that was part of earning business income . . . . . . . . . . . . . . . . . | 1 | ||||||||||||||||||||||||||
| Total kilometres you drove in the fiscal period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2 | ||||||||||||||||||||||||||
| Fuel and oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3 | ||||||||||||||||||||||||||
| Interest (use Chart B below) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4 | ||||||||||||||||||||||||||
| Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 5 | ||||||||||||||||||||||||||
| Licence and registration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 6 | ||||||||||||||||||||||||||
| Maintenance and repairs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 7 | ||||||||||||||||||||||||||
| Leasing (use Chart C below) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 8 | ||||||||||||||||||||||||||
| Electricity for zero-emission vehicles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 9 | ||||||||||||||||||||||||||
| Other expenses (specify): | 10 | ||||||||||||||||||||||||||
| 11 | |||||||||||||||||||||||||||
| Total motor vehicle expenses: Add amounts 3 to 11 | 12 | ||||||||||||||||||||||||||
| Business use part: | amount 1: | x amount 12: | . . . . . . . . . . . . . . . . . . . . . . . . . | = | 13 | ||||||||||||||||||||||
| amount 2: | |||||||||||||||||||||||||||
| Business parking fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 14 | ||||||||||||||||||||||||||
| Supplementary business insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 15 | ||||||||||||||||||||||||||
| Allowable motor vehicle expenses: Add amounts 13 to 15 (enter this total on line 9281 of Part 4) . . . . . . . . . . . . | 16 | ||||||||||||||||||||||||||
| Note: You can claim capital cost allowance on motor vehicles in Area A. | |||||||||||||||||||||||||||
Chart B – Available interest expense for passenger vehicles and zero-emission passenger vehicles |
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| Total interest payable (accrual method) or paid (cash method) in the fiscal period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 17 | ||||||||||||||||||||||||||
| $10**** | x | the number of days in the fiscal period for which interest | . . . . . . . . . . . . . . . | = | 18 | ||||||||||||||||||||||
| was payable (accrual method) or paid (cash method) | |||||||||||||||||||||||||||
| Available interest expense: Amount 17 or 18, whichever is less (include this in amount 4 of Chart A above) . . . . . . . . . . . . . . . . . . | 19 | ||||||||||||||||||||||||||
| **** For passenger vehicles bought after 2000. | |||||||||||||||||||||||||||
Chart C – Eligible leasing cost for passenger vehicles ***** |
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| Total lease charges incurred in your current fiscal period for the vehicle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 20 | ||||||||||||||||||||||||||
| Total lease payments deducted before your current fiscal period for the vehicle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 21 | ||||||||||||||||||||||||||
| Total number of days the vehicle was leased in your current and previous fiscal periods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 22 | ||||||||||||||||||||||||||
| Manufacturer's list price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 23 | ||||||||||||||||||||||||||
| Use a GST rate of 5% or HST rate applicable to your province. | |||||||||||||||||||||||||||
| Amount 23 or ($42,353 + GST and PST, or HST on $42,353), whichever is more (see note 9) ► | x 85% | = | 24 | ||||||||||||||||||||||||
| [($950 + GST and PST, or $950 + HST) x amount 22] ÷ 30 (see note 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | = | 25 | |||||||||||||||||||||||||
| Amount 25: | – amount 21: | . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | = | 26 | |||||||||||||||||||||||
| [($36,000 + GST and PST, or $36,000 + HST) x amount 20] ÷ amount 24 (see note 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | = | 27 | |||||||||||||||||||||||||
| Eligible leasing cost: Amount 26 or 27, whichever is less (enter in amount 8 of Chart A above) . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 28 | ||||||||||||||||||||||||||
| ***** Includes a vehicle that would qualify as a zero-emission passenger vehicle if you owned it. | |||||||||||||||||||||||||||
| Note 9: For leases entered into in 2022, it's amount 23 or ($40,000 plus GST and PST, or HST on $40,000), whichever is more. For leases entered into before 2022, it's amount 23 or ($35,294 plus GST and PST, or HST on $35,294), whichever is more. |
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| Note 10: For leases entered into in 2022, amount 25 is equal to [($900 plus GST and PST, or $900 plus HST) multiplied by amount 22], divided by 30. For leases entered into before 2022, amount 25 is equal to [($800 plus GST and PST, or $800 plus HST) multiplied by amount 22], divided by 30. |
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| Note 11: For leases entered into in 2022, amount 27 is equal to [($34,000 plus GST and PST, or $34,000 plus HST) multiplied by amount 20], divided by amount 24. For leases entered into before 2022, amount 27 is equal to [($30,000 plus GST and PST, or $30,000 plus HST) multiplied by amount 20], divided by amount 24. |
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| See the privacy notice on your return. | |||||||||||||||||||||||||||
| T2125 E (23) | Page 8 of 8 | ||||||||||||||||||||||||||