News
Mileage Logbooks
On June 28, 2010, the federal government announced that proprietorships could use a simplified logbook for motor vehicle expense once they have established a base year (maintain a full logbook for one complete year). The simplified logbook covers a three month period and can be used to extrapolate the business use for the entire year (as long as the usage is within 10% of the prior year). You can visit
http://www.cra-arc.gc.ca/nwsrm/rlss/2010/m06/nr100628-eng.html for further details.