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1. Enter the total lease charges payable for the vehicle in the tax year

$ Blank space for dollar value

Line 1

2. Enter the total lease payments deducted for the vehicle before the tax year

$ Blank space for dollar value

Line 2

3. Enter the total number of days the vehicle was leased in the tax year and previous years

$ Blank space for dollar value

Line 3

4. Enter the manufacturer's list price

$ Blank space for dollar value

Line 4

5. $35,294 + GST ¹ and PST, or HST ¹ on $35,294

$ Blank space for dollar value

Line 5

6. Enter the amount from line 4 or line 5, whichever is more

$ Blank space for dollar value

× 85%

$ Blank space for dollar value

Line 6

7. ($800 + GST ¹ and PST, or HST ¹ on $800) × line 3 =

$ Blank space for dollar value

÷ 30 =

$ Blank space for dollar value

− line 2

$ Blank space for dollar value

Line 7

8. ($30,000 + GST ¹ and PST, or HST ¹ on $30,000) × line 1 =

$ Blank space for dollar value

÷ line 6

$ Blank space for dollar value

Line 8

Your eligible leasing cost is the lower of the amounts on line 7 and line 8.

¹ Use a GST rate of 5% or the HST rate for your province.