O paid $11,400 including 13% HST for car lease payment for 12 months in the current...
O paid $11,400 including 13% HST for car lease payment for 12 months in the current year. O is required to use the car for employment and to pay her own car expenses. She estimates that the car is used 60% for employment purposes. What is the maximum deduction from employment income for tax purposes available to O for the current year?
Homework Answers
The Deduction she can claim in her income return is only the employment share of expenses and not the personal share of her expenses.
The Deduction she can claim = $11400 * 60%
= $ 6840
O can claim $ 6840 as deduction from the employment income in filing of her income tax return.
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