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]