Question

Sole proprietorship personal and business use

Forum|Forum|4 years ago
February 17, 2022
1 reply
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If I use my personal item for personal and business purposes is it possible to claim CCA without transferring the property to the business?

TurboTaxSusan

If your business is not incorporated, then you don't need to "transfer" anything. You would just need to keep track of your personal vs business use, as you can only deduct expenses that you used for earning your business income.

The Canada Revenue Agency (CRA) may ask for proof that you used your personal asset for business use. For a car, this is easy, as you need to maintain a logbook, but it may be more difficult for other things, like a laptop.