Can Captial Costs Allowance be deferred to next year?

I puchased a new car (year of 2008) for commercial purpose of use in Sept 2007 in Vancouver, BC. I am not self-employed and the company paid me the gas. There was only about 4 months income I earned in 2007, so no doubt I can get the tax return when I submit the tax filing this year despite filing CCA. I am thinking my income in 2008 will be significantly increasing, so can I defer the first year depreciation of the purchase until 2009 April. Or I need to file the CCA and get much return in 2008?

So all I need to do is to declare the UCCA in the employee's expense statement form for this year in 2008 and carry over until 2009?

Yes, CCA can be deferred to next year, which allows u to claim more later (with higher undepreciated capital cost (UCC)). You just add the capital cost of the car to the CCA schedle for the yr without claiming any CCA and then carryover the UCC to next year.

NOTE: My above answer was only in response to your question whether u can defer the CCA to next year. However, upon a 2nd read of your additional details, you said that you received gas money from your employer. You meant mileage allowance? If yes, mileage allowance generally is a payment by employers for employee's car gasoline, car depreciation, insurance, etc. If so, you are not entitled to claim any CCA for your car because u already have been compensated by your employer.

i think because the sales tax went up today and if they pay for the gas then you wont have to pay for the gas but you will have to pay for the car and the monthly payments but that might hurt your credit score or you monthly income but you may be able to afford it but you might just go ahead and buy the warrinty and buy the car but that is my guess though