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Q: I rent out my company van and receive rental income. Can I claim capital allowance on the van?

A: It depends on whether the rental of company van is a business source or not. If it is, then the van qualifies for capital allowance. If it is not, then the van is not eligible for capital allowance.  

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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