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Proprietorship

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/tx/bsnss/tpcs/slprtnr/bsnssxpnss/mtr/menu-eng.html for further details.