Gifting my M3 to my spouse and buying a second to get second tax write off , anyone done it?

[Biscuitman]

Bought my M3 in 2019 and got the huge tax deduction as I use it for business .
I am contemplating gifting my current car to my spouse, no tax owed, and pulling the trigger on a 2021 M3.
Has anyone here ever gotten the tax write off twice, any issues? My accountant thinks I would need to transfer ownership of the current car as likely to attract CRA eyes if both cars in my name.
Thoughts?

 

[ccudmore]

Bought my M3 in 2019 and got the huge tax deduction as I use it for business .
I am contemplating gifting my current car to my spouse, no tax owed, and pulling the trigger on a 2021 M3.
Has anyone here ever gotten the tax write off twice, any issues? My accountant thinks I would need to transfer ownership of the current car as likely to attract CRA eyes if both cars in my name.
Thoughts?

I think your accountant is a smart person who knows taxes better than the average person.

 

[darkenergy]

We received the old 8500 rebate for our Smart and the 14k rebate for our M3. No issues. Both cars in my name.

No idea about the corporate side. Talk to your account rather than a random collection of dogs on the inter webs. ;->