Just wondering how you do it.
I have been keeping track of my KMs but not fuel costs at each fill up. Is there an amount I can claim per km?
I was not going to claim other vehicle expenses since I don't do that much driving for DC.
Thanks!
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Just wondering how you do it.
I have been keeping track of my KMs but not fuel costs at each fill up. Is there an amount I can claim per km?
I was not going to claim other vehicle expenses since I don't do that much driving for DC.
Thanks!
I am curious about this as well as my husband didn't keep the receipts as he didn't realize I could claim a portion of this. I didn't track my km's either but I could give a number based on grocery shopping alone. I don't do much driving either.
When it comes to vehicle expenses make sure and claim them!! It makes a huge difference. For myself I keep track of all km's I drive for every trip I make for groceries, supplies, etc! anything. I give my accountant my totals of km's driven for each category (50% for groceries, 100% for all supplies etc). He then claims a portion of my gas, portion of my car insurance/driver's licence and a portion of my car repairs. I think it was almost 9000 in deductions I claimed.
when it comes to logging km's I don't actually keep track of what I drove. On my spreadsheet that I use to keep track of my daycare expenses I have a column for km's. So for a trip to walmart I use 8km, for superstore I use 16 etc. then they all get totalled at the end. I don't actually worry about tracking actual km's in my vehicle. Does that make sense? I do keep gas receipts during the year, not sure it would matter though.
I'm the same as mickyc. I use one of my vehicles as my business vehicle, and tally kms on each trip/gas/maintenance and repairs/capital cost allowance for depreciation/insurance/licence etc. Keep all your receipts-you never know when they might come in handy.
Your accountant should figure out the amount for all vehicle related expenses (it will be a percentage of everything based on use). You do need to have all the receipts if you are ever audited!
The first year I didn't keep gas receipts, just km's. Now I keep all gas receipts including gas for the snow blower and lawn mower.
I keep a record of all my km's used for daycare purposes (grocery trips, field trips, picking up toys etc). I also mark down the km's on my car at the beginning and end of the year and than my accountant claims my dc km's against the total km's. I do a lot of shopping in the states and I make sure to log those km's as well as keep hotel receipts.
Oh yes, and I also keep all receipts for car parts, services, tires etc. I also claim my drivers license and insurance.
You have to keep a log of all your kms. CRA will request them if audited. Must keep maintenance and repairs receipts as well car wash, license sticker, and parking receipts.