Personal Finance

Writing off electricity instead of gas with electric car

  • Last Updated:
  • Jun 8th, 2018 12:47 pm
[OP]
Member
Apr 24, 2017
488 posts
294 upvotes

Writing off electricity instead of gas with electric car

Anyone have a suggestion on how to keep an accurate account of how much electricity an electric car uses and how to properly write it off instead of gasoline?
11 replies
Deal Addict
Jan 19, 2017
1708 posts
822 upvotes
benjicash wrote:
Jun 5th, 2018 7:46 pm
Anyone have a suggestion on how to keep an accurate account of how much electricity an electric car uses and how to properly write it off instead of gasoline?
how about the charging time?
[OP]
Member
Apr 24, 2017
488 posts
294 upvotes
Do you know how to convert charge time to $?
Jr. Member
Sep 21, 2015
116 posts
28 upvotes
Toronto, ON
What charger do you have? Some wifi connected chargers (ie chargepoint) will tell you how much you used per month (kW and $). Also, some cars will provide this info thru thier onboard info system.
Member
Aug 17, 2006
410 posts
101 upvotes
Toronto
benjicash wrote:
Jun 5th, 2018 8:52 pm
Is this is lieu of gas, insurance and maintenance? How do you know if you qualify to do it this way? Or is it simply the limits on what an employer can pay the employee without it being taxed?
You can deduct automobile expenses EITHER on a per km basis at the CRA rate OR deduct expenses including CCA (capital cost allowance). It's best to calculate each and figure out which is more and deduct that.
Deal Fanatic
Aug 21, 2007
5188 posts
310 upvotes
Markham
benjicash wrote:
Jun 5th, 2018 8:52 pm
Is this is lieu of gas, insurance and maintenance? How do you know if you qualify to do it this way? Or is it simply the limits on what an employer can pay the employee without it being taxed?
you can use this method, if you own a corporation, and are using a vehicle for business purposes, that is not owned by the corporation

if you are self employed (report the income from business on your T1), this method will not apply to you
Penalty Box
User avatar
Jun 24, 2015
2783 posts
604 upvotes
Woodbridge, ON
you brought up a good point, what if someone gets a rental car for work and it is one of those electric cars, how do u re-imburse? now you have to add a new column to your expense sheet for hydro as well as the traditional gas. does charging stations even give you receipts for hydro consumption? how do u pay?
Hi
Deal Fanatic
Nov 24, 2013
5747 posts
2385 upvotes
Kingston, ON
GoodFellaz wrote:
Jun 7th, 2018 4:26 pm
you brought up a good point, what if someone gets a rental car for work and it is one of those electric cars, how do u re-imburse? now you have to add a new column to your expense sheet for hydro as well as the traditional gas. does charging stations even give you receipts for hydro consumption? how do u pay?
I believe most headers on expense reports are for “fuel,” and while it might not take liquid form, electricity is the fuel for an electric car.

Pay per use chargers usually charge a credit card. That’d be the “fuel” expense for the trip.

It’s breaking it out of home charging that would be more challenging... probably easiest with an app-enabled car or charger that can tell you the kWh used, but I don’t know if CRA has issues any guidance on this yet.

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