Vehicles class 10 are eligible for immediate expensing. I am going to claim more than allowable CCA, but lett than total cost. Motor Vehicle worksheet does not allow me to claim higher amount. Where should I record the vehicle information for self-employed individuals to be considered for immediate expensing and being able to claim immediate expensing.
Taxcycle has a webinar about immediate expensing. They said they didn’t update the motor vehicle worksheet for immediate expensing yet and said you have to override the CCA. If the motor vehicle is used for only one business, you can try putting it directly on the T2125 it relates to as an asset.
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