how do I figure Deprecation for a vehicle?

Hi Stumpped.

Being able to enter the appropriate depreciation for company owned assets is key to having correct accounts. I'd be happy to help point you in the right direction for getting the right depreciation calculated.

In order to find out the depreciation amounts for a vehicle I recommend reaching out to the CRA or your accountant as they are trained in how to calculate this depreciation. You can get in touch with the CRA by following this article. If you rather speak to an accountant but don't have one no worries, we can help. You can go to our Find an Accountant page to find one in your area.

If you have any questions let us know and we'd be happy to help!