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twang090
April 25, 2022
Question

how to report per km cost on t2125 for sole proprietorship

  • April 25, 2022
  • 1 reply
  • 0 views

the car is owned by my wife not myself, so attempting to do a mileage cost per km follow CRA guidance Automobile allowance rates - Canada.ca. But unable to find where to enter this in the T2125 form, please help thanks

1 reply

TurboTaxSusan
TurboTaxSusan
April 27, 2022

Unlike in the US, there is no way to "claim mileage" for self-employment, rental or employment expenses. You must claim your automobile expenses based on your actual receipts and how much you used the car for work/business purposes. 

 

The link that you have given is for employers who want to give their employees an automobile allowance that is low enough that it is not considered a taxable benefit.

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