Business Taxation Q 'n A

Should me or my company own/lease my car?

This is probably the most asked questions by a business owner to his or her accountant. Like other issues, the answer depends on factors. The type of vehicle, cost of vehicle, whether owned or leased, years expected to drive, number of business and personal km driven all must be considered. Unfortunately, there is no one correct answer and each situation must be examined on its own facts.