This is a multi-part message in MIME format. ---------------------- multipart/alternative attachment I would like to know what criteria is used to determine whether you can write off vehicle expenses. Is it the number of units you have, the income and or location or other factors involved.If you have any answers please email me at XXXXXXXXXXX Thank you. ================================================================================= david ingram replies All of the above apply. The following is reproduced from the CCRA's own rental guide. You can get the whole thing at http://www.ccra-adrc.gc.ca/E/pub/tg/t4036/t4036-05-e.html#P413_40887 You can also go to www.centa.com and click on Tax Guide and click on Rental Income to read that chapter from my own book. Rental Income - Includes Form T776 On this page... a.. Expenses you can deduct a.. Prepaid expenses b.. Line 8521 - Advertising c.. Line 8690 - Insurance d.. Line 8710 - Interest e.. Line 8960 - Maintenance and repairs f.. Line 8871 - Management and administration fees g.. Line 9281 - Motor vehicle expenses h.. Line 8810 - Office expenses i.. Line 8860 - Legal, accounting, and other professional fees j.. Line 9180 - Property taxes k.. Line 9060 - Salaries, wages, and benefits l.. Line 9200 - Travel m.. Line 9220 - Utilities n.. Line 9270 - Other expenses o.. Landscaping costs p.. Lease cancellation payments q.. Condominiums r.. Vacant land s.. Expenses you cannot deduct t.. Land transfer taxes u.. Mortgage principal v.. Penalties w.. Value of your own labour x.. Line 9949 - Total personal portion of expenses y.. Deductible expenses z.. Line 9369 - Net income (loss) before adjustments aa.. Co-owners - Your share of line 9369 ab.. Line 9945 - Other expenses of the co-owner ac.. Line 9947 - Recaptured capital cost allowance ad.. Line 9948 - Terminal loss ae.. Line 9936 - Capital cost allowance af.. Net income (loss) ag.. Partnerships - Your share of line d ah.. Line 9943 - Other expenses of the partner ai.. Line 9946 - Your net income (loss) aj.. Rental losses ak.. Renting below fair market value Line 9281 - Motor vehicle expenses You can deduct motor vehicle expenses in the following circumstances: a.. If you own one rental property: You can deduct reasonable motor vehicle expenses if you meet all the following conditions: a.. you receive income from only one rental property that is in the general area where you live; b.. you personally do part, or all, of the necessary repairs and maintenance on the property; and c.. you have motor vehicle expenses to transport tools and materials to the rental property. You cannot deduct motor vehicle expenses you incur to collect rents. These are personal expenses. a.. If you own two or more rental properties: In addition to the expenses listed above, you can deduct reasonable motor vehicle expenses you incur to do any of the following: a.. collect rents; b.. supervise repairs; and c.. generally manage the properties. This applies whether your rental properties are located in or outside the general area where you live. However, your rental properties have to be located in at least two different sites away from your principal residence. The motor vehicle expenses that we consider to be reasonable depend on the circumstances of your situation. For information on how to calculate the motor vehicle expenses that you can deduct, see our guide called Business and Professional Income. This should give you an isdea. I would be glad to help in a professional capacity. David Ingram's US/Canada Services US / Canada / Mexico tax and working Visa Specialists US / Canada Real Estate Specialists 4466 Prospect Road North Vancouver, BC, CANADA, V7N 3L7 Res (604) 980-3578 Cell (604) 657-8451 (604) 980-0321 New email to [email protected] www.centa.com www.david-ingram.com Disclaimer: This question has been answered without detailed information or consultation and is to be regarded only as general comment. Nothing in this message is or should be construed as advice in any particular circumstances. No contract exists between the reader & the author and any and all non-contractual duties are expressly denied. All readers should obtain formal advice from a competent financial, or real estate planner or advisor & appropriately qualified legal practitioner, tax or immigration specialist in connection with personal or business affairs such as at www.centa.com. If you forward this message, this disclaimer must be included." Be ALERT, the world needs more "lerts" This from "ask an income tax and immigration expert" from www.centa.com or www.jurock.com or www.featureweb.com. Canadian David Ingram deals daily with tax returns dealing with expatriate: multi jurisdictional cross and trans border expatriate problems for the United States, Canada, Mexico, Great Britain, the United Kingdom, Kuwait, Dubai, Saudi Arabia, South Africa, Thailand, Indonesia, Egypt, Antarctica, Japan, China, New Zealand, France, Germany, Spain, Italy, Russia, Georgia, Brazil, Peru, Ecuador, Bolivia, Scotland, Ireland, Hawaii, Florida, Montana, Morocco, Israel, Iraq, Iran, India, Pakistan, Afghanistan, Mali, Bangkok, Greenland, Iceland, Cuba, Bahamas, Bermuda, Barbados, St Vincent, Grenada,, Virgin Islands, US, UK, GB, American and Canadian and Mexican and any of the 43 states with state tax returns, etc. Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico,New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon. Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, West Virginia, Wisconsin, Wyoming, British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec City, New Brunswick, Prince Edward Island, Nova Scotia, Newfoundland, Yukon and Northwest and Nunavit Territories, Mount Vernon, Eumenclaw, Coos Bay and Dallas Taxman and Tax Guru Your name has been added to our email list because of an enquiry we have received, we may not answer your question but another similar question will be as we lump them. You may find more answers at www.centa.com David Ingram of the CEN-TA REALTY Group US / Canada / Mexico tax and working Visa Specialists US / Canada Real Estate Specialists (604) 980-0321 - Fax 913-9123 [email protected] www.centa.com www.david-ingram.com ---------------------- multipart/alternative attachment An HTML attachment was scrubbed... URL: http://www.centa.com/CEN-TAPEDE/centapede/attachments/48f57326/attachment.htm ---------------------- multipart/alternative attachment--
