Flaherty Announces New Automobile and Expense Rates for Business
Flaherty Announces New Automobile and Expense Rates for Business On December 31th, 2009 the Minister of Finance announced the following items: The capital cost allowance cap of $30,000 (plus applicable taxes) for passenger vehicles will remain in affect for vehicles purchased after 2009. The maximum allowable deduction for interest incurred on debt to finance business…