Im talking about this
Zero-Emission Vehicles - Canada.ca
Where you are allowed to deduct %100 of the cost up to $55,000.
So here is where im at. I have a small business and I legitimately use my car for work. I use %85 business use on my taxes. I have a 2018 model 3 so it does not qualify for this. I took a 6 year loan with 3 1/2 years left. I may be able to trade it in on a model y and break even. I am also planning on getting a cybertruck, but I am ok waiting a few years so I dont get one of the first several thousand off the line.
So would I be better off to trade in the model 3 for a Y and lease it for 3 years, then get the cybertruck when the lease is over? I dont want to discuss how much tax I paid last year, but it would be nice to have more tax deductions.
Zero-Emission Vehicles - Canada.ca
Where you are allowed to deduct %100 of the cost up to $55,000.
So here is where im at. I have a small business and I legitimately use my car for work. I use %85 business use on my taxes. I have a 2018 model 3 so it does not qualify for this. I took a 6 year loan with 3 1/2 years left. I may be able to trade it in on a model y and break even. I am also planning on getting a cybertruck, but I am ok waiting a few years so I dont get one of the first several thousand off the line.
So would I be better off to trade in the model 3 for a Y and lease it for 3 years, then get the cybertruck when the lease is over? I dont want to discuss how much tax I paid last year, but it would be nice to have more tax deductions.