Originally Posted by DanJ
Any accountants here know how vehicle leases should be handled? We pay the taxes monthly on our payment, so should the payment drop now, or does the fact we took possession of the vehicle a year ago mean the payment stays through the 4 year lease?
It's funny you ask that question, I watched a TV show over the weekend about cars and the President of the Car Dealers of Quebec mentioned that the reduced GST will be applied automatically to all leases and that everyone in the Belle province should have an adjustment to their monthly payments after July 1st. I don't see why it shouldn't be the same for the rest of the country.