[hp_sauce]

Question 1:

I would like to know if quicktax automatically calcualtes the 50% rule when entering the cost of a 10.1 class vehicle in the cost of additions column of the CCA screen under employment expenses in quicktax standard 2008? If you need more info, please let me know as I need to get this solved! Thanks!

Question 2:

When claiming capital cost allowance for the first time on 2007 taes on a vehicle that was purchased in 2003, how should the amounts be calculated for columns 2-5 be calculated (in particular column 2 - undepreciated capitol cost at the beginning of the year)? There is no T777 from 2006 taxes as 2007 was the first year claiming this deduction. Thanks!

[JohnNP]

edit: (first misread)

as far as QT calculations go, it will calculate the tax figures correctly based on the data corrrectly entered into it

however, of more concern is the lawful tax application - it is very rare for this to be valid, and the explantion above indicates that an incorrect approach may be being contemplated

imho an accountant should be brought in for best results