Automobile

by Tax Guy - Burlington Accountant on February 11, 2010 Print This Post Print This Post

For tax purposes, a motor vehicle designed to carry people on highways or streets and with a seating capacity of not more than the driver and 8 passengers.
The definition does not include:

  • an ambulance
  • a taxi or bus used in a business to transport passengers
  • a hearse
  • any motor vehicles acquired to be sold, rented, or leased in the course of carrying on a business of selling, renting, or leasing motor vehicles.

About The Tax Guy...

Dean Paley CGA CFP is a Burlington accountant and financial planner who services individuals and business owners locally, nationally and internationally. Dean has appeared in the National Post, Toronto Star and Metro News.

To find out more, visit Dean's website Dean Paley CGA CFP or connect via Twitter @DeanPaleyCGACFP.

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