A carrier financed new trucks. We optimized CCA classes and interest deductibility for the fleet.
A transportation company financed several new trucks and trailers and was unsure how to deduct them. We assigned the vehicles to the correct capital cost allowance classes, applied available first-year incentives, and confirmed the interest deductibility on the financing. The optimized treatment maximized the fleet's tax deductions.
Transportation files run on logbooks, per-diem meal claims and fuel tax reporting reconciled across every jurisdiction driven.
Depreciable property is written off through capital cost allowance at a rate set by its class, and the half-year rule limits the first-year claim unless immediate expensing applies.
Why it bites: Class selection is where the money is. The same asset placed in the wrong class can delay the deduction by years, and the error repeats every year until corrected.
Planning has to be in place before the transaction. The salary-versus-dividend mix, the timing of a capital purchase and the choice of year-end all change the outcome, but only prospectively.
Why it bites: Almost every planning opportunity we see missed was available and simply not taken in time; very few are recoverable after year-end.
A CCPC files its T2 within six months of year-end, with the balance due two months after (three where the small business deduction is claimed). The 9% federal small business rate applies to the first $500,000 of active business income.
Why it bites: The filing and payment deadlines differ, and interest runs from the payment date. Filing on time while paying late still costs money.
Every engagement above was priced as a fixed fee agreed before the work started, and paid only once the client had reviewed the result. If any of this looks like your situation, the first step is a free 15-minute call — we will tell you plainly whether there is anything worth doing.
Reviewed for the 2025 tax year by Udit Gupta, Certified Tax Accountant. Figures describe a real engagement; outcomes depend on your own facts. Client details are omitted for confidentiality.
