Quote:
Originally Posted by 0002s
Can you write a lease payment off as a business expense in Canada as you can in the US?
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You can write off a percentage of your lease payment, gas, maintenance, insurance, etc.
Depending on how much you use the vehicle for business purposes, you can claim a good chunk of your mileage. I usually claim around 30-40% to avoid being audited.
I don't think I could ever buy a car in cash, not when it's actually substantially more beneficial to do it this way and take advantage of the tax breaks.