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Writing off electricity instead of gas?

Discussion in 'Canada' started by Darthbenji, Jun 5, 2018.

  1. Darthbenji

    Darthbenji Member

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    Im scheduled for delivery on Thursday. For those of you that car write off motor vehicle expenses, how do you keep an accurate record of your vehicles electricity charging use?
     
  2. RAM_Eh

    RAM_Eh Member

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    Try to make an arrangement to get reimbursed for mileage on a personal car. Far better arrangement. If you are self employed even better, $0.55 per KM.
     
    • Informative x 1
  3. Darthbenji

    Darthbenji Member

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    Not really what I was hoping for. My employment contract requires me to have a car. They don’t pay mileage or a car allowance. I used to write off a portion of my gas. I was wondering if anyone knows a way to accurately account for the electricity the car is using from my home.
     
  4. Koflach

    Koflach Member

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    best thing I can suggest is to look at the year over year numbers for your electricity and determine the usage off that. Otherwise, just don't worry about it as it's a relatively minimal part of the overall cost. So long as you can write off the percentage of your payment/insurance used for work you should be okay.
     
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  5. sakimano

    sakimano Active Member

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    Good question...just filed and accountant ballparked based on average electricity rates paid, average energy consumption on the car and kms driven. Easy to calculate.
     
  6. Struja

    Struja "Fanboy"

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    Is it possible to meter your HPWC if you have one? (Does that even make sense)
     
  7. Darthbenji

    Darthbenji Member

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    That would be easiest if you could.
     
  8. Garlan Garner

    Garlan Garner Well-Known Member

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    Electricity is so much cheaper than gas....its almost not worth it to try and calculate it.
     
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  9. Darthbenji

    Darthbenji Member

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    I drive about 40k a year. The electricity is worth it to write off.
     
  10. Garlan Garner

    Garlan Garner Well-Known Member

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    I'm driving about the same if not more...…

    40K miles @ $0.04 KWH ( my home kwh average price here in Illinois ). - without my solar panels.

    The model 3 is rated at 241 watt hours per mile...Soooo

    3 miles = 1KWh. ( rounded up to 330 per mile from 241 for my lead foot ).

    That means that 40K miles @ $0.04/kwh is going to cost me $533 for the year. Really? I ain't going to write that off.
     
  11. liuping

    liuping Active Member

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    You have insanely low electricity rates. Some as pay as much as 10x more. So for them 40k miles could be closer to $5000 a year, and certainly worth writing off.
     
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  12. Saghost

    Saghost Well-Known Member

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    This sounds like a situation for Tesla FI or one of the other programs that uses your MyTesla credentials/mobile access to log every trip and every charging event.
     
  13. Garlan Garner

    Garlan Garner Well-Known Member

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    Well yes...I can see that then.

    Yes...here in Illinois we have very low rttp electricity rates.....Its actually been lower than what I posted.

    Live Prices | ComEd's Hourly Pricing Program
     
  14. Struja

    Struja "Fanboy"

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    Two things... given that the OP is in Ontario (Canada) our nighttime charging rates are usually around $0.065 plus taxes and fees and when he says 40k a year, I am pretty sure he means km, not miles.
     
  15. Smiles83

    Smiles83 Member

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    Writing off mileage on your taxes would be the best and easiest way to go by far.
    55 cents for your first 5000kms
    49 cents after 5000kms
    So your annual 40,000kms would be approx $19,900 write off.
     
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  16. Garlan Garner

    Garlan Garner Well-Known Member

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    What? Whoaaahhh.....

    Where are you getting those numbers from?

    A 2017 survey of consumer electricity prices by Hydro Quebec showed that Edmonton had the third-lowest power prices among some two dozen major North American cities. (Only Montreal and Winnipeg were lower.) In Edmonton, the average price for residential customers was 10.34 cents per kiloWatt hour. That’s compared to 15.94 cents /kWh in Regina, 16.32 cents /kWh in Toronto, and 31.05 cents/kWh in San Francisco.

    What is a kms?



    Yayyyyyy!.... 7000 posts!!!!! lol
     
  17. Darthbenji

    Darthbenji Member

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    Kms? That’s short for kilometres.

    I figure I’m at 10 cents per kw/h given 6.5 cents overnight plus tax and the delivery charges. If the car has a 75kw battery, is that not about $7.50 per 500 Kms, depending on range? Based on 40k that’s 80 full charges per year, so about $600. Singe range drops in the winter by say 30% id add that to the amount. $780 sounds like a pretty reasonable estimate with any error being to the benefit of the CRA. Unless I’m missing something. Am I?
     
  18. DMC-Orangeville

    DMC-Orangeville 85D and John Deere 5100E

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    This is Canadian....(and I'm not sorry)
    The numbers are the maximum allowed by CRA (Canada Revenue Agency - Canada's IRS)
    It is supposed to take into account; fuel, maintenance and depreciation
    If claimed from an employer, it is non-taxable

    At some point, the CRA will figure out that EV's cost less to run, and lower the amount
     
  19. Garlan Garner

    Garlan Garner Well-Known Member

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    NO...I mean ...what is a kms.

    Where are the KWH numbers coming from? I goggled Canada's KWH prices and I haven't been able to find prices even close to what you are posting.
     
  20. Az_Rael

    Az_Rael Supporting Member

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    There are EVSEs out there that have smart features and are WiFi connected. With one of those you could easily track the cars energy use. I think Juicebox and Chargepoint are some examples. It’s too bad the Tesla HPWC doesn’t offer the same options.
     

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