Accounting, Bookkeeping, Income Tax Preparation, And Consulting Forum

The following News Releases or Speeches has just been posted on the Finance Canada Site. Ottawa, December 29, 2010 The Honourable Jim Flaherty, Minister of Finance, today announced that the automobile expense deduction limits and the prescribed rates for the automobile operating expense benefit will remain unchanged for 2011. The Government reviews these rates and limits annually. Specifically: * The ceiling on the capital cost of passenger vehicles for capital cost allowance (CCA) purposes will remain at $30,000 (plus applicable federal and provincial sales taxes) for purchases after 2010. This ceiling restricts the cost of a vehicle on which CCA [More]

The following News Release or Speech had been posted on the Finance Canada Site. Ottawa, December 31, 2009 2009-125 The Honourable Jim Flaherty, Minister of Finance, today announced the automobile expense deduction limits and the prescribed rates for the automobile operating expense benefit that will apply in 2010. All of the limits and rates in effect in 2009 will continue to apply in 2010. Specifically: * The ceiling on the capital cost of passenger vehicles for capital cost allowance (CCA) purposes will remain at $30,000 (plus applicable federal and provincial sales taxes) for purchases after 2009. This ceiling restricts the [More]

The following News Release or Speech has just been posted on the Finance Canada Site. Ottawa, December 30, 2008 2008-114 The Honourable Jim Flaherty, Minister of Finance, announced today that the automobile expense deduction limits and prescribed rates for the automobile operating expense benefit that applied in 2008 will apply in 2009. Specifically: * The ceiling on the capital cost of passenger vehicles for capital cost allowance (CCA) purposes will remain at $30,000 (plus applicable federal and provincial sales taxes) for purchases after 2008. This ceiling restricts the cost of a vehicle on which CCA may be claimed for business [More]