If You Use Your Car for Both Business and Pleasure

question 177

Short Answer

If you use your car for both business and pleasure, the Canada Revenue Agency will usually allow you to report a portion of the costs of operating the vehicle as a business expense. This portion is determined by the ratio of the distance travelled on business to the total distance travelled in the year.
Last year, Harjap spent a total of $11,348 on gasoline, oil, repairs and maintenance, and insurance. His travel log shows that he drove 14,488 km on business and 8,329 km on personal use. What vehicle expense can Harjap report for the year?

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Definitions:

Onset of Depression

The initial period or phase when symptoms of depression start to manifest in an individual.

Theoretical Perspectives

Frameworks or ways of viewing phenomena, typically used in academic disciplines to guide research and understand complex issues.

Cognitive-Behavioral Explanation

A perspective suggesting that dysfunctional thinking and learned patterns of unhelpful behavior play a role in the development of psychological disorders.

Negative Thoughts

Cognitive processes or thoughts that are detrimental to one’s self-esteem, mood, and actions, often a focus in cognitive-behavioral therapy.