Federal EV coming this budget 2019

[bob_electric]

If I'm reading the budget correctly, you CAN take 100% of CCA in the first year but so what? Say you're self-employed, you can't claim more than 70% of vehicle expenditure under business anyways without risking an audit. It doesn't matter, we are not gaining anything but merely being able to get all the CCA in the 1st year given that you have that much revenue.

We can claim all the HST in cars anyways under the business unless you are using the quick method which doesn't matter since there is a fixed amount of HST being paid back.

In conclusion, the EV incentive the Liberals is offering is simply pathetic, but I kind of know where they are coming from. They don't want to fall so hard like the Ontario Liberals did last year.

I actually find this interesting. I'm self employed and my marginal tax rate is near 50%.

Let say I acquire and put in service a Model 3 on December 1st. I use the model 3 exclusively for work purpose and use my old car for anything else.

Then for 2019, I can deduct 55k + get reimbursed taxes on that amount?

Afterward, 2020 and onward, my professional usage of the Tesla would be around 50-60%. But that wouldn't matter because I won't have anything to depreciate anymore.