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August 14, 2023
Question

This is my first time doing taxes as a courier/driver. What is "interest expenses for vehicle"

  • August 14, 2023
  • 1 reply
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    1 reply

    April 30, 2024

    Hello,

     

    Interest expenses for vehicle include includes interest you paid on money you borrowed to buy a motor vehicle.  

     

    You can find more information here:

    https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/motor-vehicle-expenses/interest-expense.html

     

    Hope this helps!