Originally Posted by Simby
What do you mean by write off depreciation? Depreciation is an accounting amount that is added back to taxable income. You can claim capital cost allowance but that's capped at $30k over the life of the car.
Bro, I don't care what about the technical terms, as I'm not an accountant. I pay one to know that. I do know that many depreciation rates are accepted, including declining balance and straight line methods. A common CCA rate for cars is 30%/year. Thanks for the technical clarification