Oil fun.

[darkmanCANADA]

Re: Oil fun.

Usually anything that is a cost of doing business can be written off. There is lots of info on this on the CRA (Rev. Can) website.

[MusicalGenius]

Re: Oil fun.

Ah if I want I could potentially spam Blair's inbox and my friend who works for the CRA as well. Along with my businesses accountant. Thanks!

[darkmanCANADA]

Re: Oil fun.

Here's a start:

http://www.cra-arc.gc.ca/tx/ndvdls/t...rvhcl-eng.html

http://www.cra-arc.gc.ca/tx/ndvdls/t.../vhcl-eng.html see eligible leasing costs

http://www.cra-arc.gc.ca/tx/bsnss/tp.../menu-eng.html

[MusicalGenius]

Re: Oil fun.

Hmm … I'll have to chat with an actual bean counter to get the skinny on this info, and luckily since I'm commission based for income I have a few additional doors open to me. I did however like this little tidbit.

An automobile does not include:

• an ambulance;
clearly marked police and fire emergency-response vehicles;
• a motor vehicle you bought to use more than 50% as a taxi, a bus used in the business of transporting passengers, or a hearse in a funeral business;
• a motor vehicle you bought to sell, rent, or lease in a motor vehicle sales, rental, or leasing business;
• a motor vehicle (except a hearse) you bought to use in a funeral business to transport passengers;
• a van, pick-up truck, or similar vehicle that seats no more than the driver and two passengers which, in the tax year you bought or leased, was used more than 50% to transport goods and equipment to earn income;
• a van, pick-up truck, or similar vehicle that, in the tax year you bought or leased, was used 90% or more to transport goods, equipment, or passengers to earn income;
• a pick-up truck that, in the tax year you bought or leased, was used more than 50% to transport goods, equipment, or passengers while earning or producing income at a remote work location or at a special work site that is at least 30 kilometers from the nearest community having a population of at least 40,000 persons; and
• a clearly marked Emergency Medical Service vehicle used to carry paramedics and their emergency medical equipment.

Passenger vehicle - This is an automobile you bought after June 17, 1987. A passenger vehicle is also an automobile that you leased under an agreement you entered into, extended, or renewed after June 17, 1987. Most cars, station wagons, vans, and some pick up trucks are passenger vehicles. They are subject to the limits for CCA, interest, and leasing.

[Canadian Turbo]

Re: Oil fun.

If you are in an employment situation you will need a T2200 from your employer in order to write off automobile amounts or run a proprietorship or limited company.

Now the idea that leasing is just a long term rent is partially true but you need to truly look at all the numbers and your situation. I have been taking a fairly deep look into some numbers as I think about a new car, and in some cases if you add your term payments, down payment and buyout it can be less than a straight financing for total cost, depending on rates and all the factors. My worry with financing is that used car values are dropping so much that it is very easy to get upside down in a loan situation which could give you a hit when you get out where a lease always lets you just walk away at the end of it.

[MusicalGenius]

Re: Oil fun.

See my father raised the same concerns over rapid financing as you just did. My only desire is to have a newer vehicle which runs and won't need money thrown at it over and over again. I found out a few hours ago my oil pan will run an easy $400+, thankfully the skid plate was there since without it I'd probably have to look at a new engine/tranny since the skid plate was dented as well. After calling up the city as well all I could get out of them was a reference number about getting the road serviced.

Either way I'll be speaking with the big cat today about potential business write offs (familial business and such) as well as his ever appreciated opinion.

On another note though, I hope everyone's having a good St. Patricks Day. I know I rang it in at the Drum, for lunch with a couple dark pints and some fish n' chips.

[MusicalGenius]

Re: Oil fun.

Total …$602.48.

Edit, you need to put an actual price in when you enter how much a repair is.

[VWSM]

Re: Oil fun.

you must of cracked real good,cause generally we just weld them and throw them back on.
depending on the crack about 250.00.
so how hard did you actually hit!!!

oh yeah are you in this saturday>>about 2:00 pm
Paul.

[MusicalGenius]

Re: Oil fun.

Hey Paul, I'll be here if not getting lunch and coming back. Send me a message and I'll make sure to be in the store.

14th Avenue between 1st Street SE and Macleod Trail isn't city property as I've learned. It's one of the four contractors over there. Here's the extent of what having your right front tire drop away from the rest of your car does. Dented my 1/4" thick skid plate, and there was still enough force to not only crack the oil pan but to crack it irreparably. Without the skid plate I'd probably be looking at having to look at a new car for en entirely different reason. Hah. According to George the oil pan most likely would have been obliterated along with a portion of my tranny, and potentially part of the engine.

The truly amazing part is this, I was literally driving no more then ~15KM/H since I was pulling out of a parking "lot". I'll take pictures of the road next time I'm at the bank. Cell phone pictures but whatever.