Quote:
Originally Posted by tiger_handheld
yes it can.
it's 30% pro-rated based on km's used for business.
business km's - 2000
total km's - 10,000
2000/10000 x 30% x 50%(if first year) = yearly depreciation.
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So on the T777 slip, my vehicle is classified as 10.1 since I leased it at 40k+ in 2011. Bought it out in 2015. I didn't start using it for work until mid 2016.
Date acquired would be the day I signed the final papers or the day I signed the lease papers?
What do I put in undepreciated capital cost at the beginning of the year? Which year? 2016?
Cost of acquisition during the year? Assuming again, 2016?