Deductible expenses

The types of expenses you may be able to claim on line 9281 of Form T2125 or Form T2121, or line 9819 of Form T2042 include:

  • licence and registration fees
  • fuel and oil costs
  • insurance
  • interest on money borrowed to buy a motor vehicle
  • maintenance and repairs
  • leasing costs

You can also claim CCA, but this amount is to be entered on "Line 9936 - Capital cost allowance."

Joint ownership of a passenger vehicle

If you and another person own or lease a passenger vehicle, the limits on CCA, interest, and leasing costs still apply. The total amount you (as a joint owner) or any other owners deduct cannot be more than the amount one person owning or leasing the vehicle could deduct.

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