Chart to calculate eligible leasing costs for passenger vehicles

1. Enter the total lease charges payable for the vehicle in the tax year

$ Blank space for dollar value
Line 1
 

2. Enter the total lease payments deducted for the vehicle before the tax year

$ Blank space for dollar value
Line 2

3. Enter the total number of days the vehicle was leased in the tax year and previous years

$ Blank space for dollar value
Line 3

4. Enter the manufacturer's list price

$ Blank space for dollar value
Line 4

5. $35,294 + GST 1 and PST, or HST 1 on $35,294

$ Blank space for dollar value
Line 5
 

6. Enter the amount from line 4 or line 5, whichever is more

$ Blank space for dollar value
× 85%
$ Blank space for dollar value
Line 6
 

7. ($800 + GST 1 and PST, or HST 1 on $800) × line 3 =

$ Blank space for dollar value
÷ 30 =
$ Blank space for dollar value
− line 2
$ Blank space for dollar value
Line 7
 

8. ($30,000 + GST 1 and PST, or HST 1 on $30,000) × line 1 =

$ Blank space for dollar value
÷ line 6
$ Blank space for dollar value
Line 8
 

Your eligible leasing cost is the lower of the amounts on line 7 and line 8.

1 Use a GST rate of 5% or the HST rate for your province.

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