Latest news with #motorvehicle
CTV News
14 hours ago
- Automotive
- CTV News
Transport forced off the road in northern Ont.
A commercial motor vehicle rolled over on Highway 64 in French River on Monday evening to avoid a crash with an oncoming vehicle.
Yahoo
7 days ago
- Business
- Yahoo
Statistics Canada reports May retail sales down 1.1 per cent at $69.2 billion
OTTAWA — Statistics Canada says retail sales decreased 1.1 per cent to $69.2 billion in May, driven by sales declines at motor vehicle and parts dealers. However, the agency says its preliminary figures for June point to an increase of 1.6 per cent for that month. For May, three of nine subsectors were down as sales at motor vehicle and parts dealers decreased 3.6 per cent, led by 4.6 per cent lower sales at new car dealers. Core retail sales, which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers, were relatively unchanged in May. The only subsector within core retail sales to post a decline was food and beverage retailers, down 1.2 per cent, led by lower sales at beer, wine and liquor retailers, along with supermarkets and other grocery retailers. Building material and garden equipment and supplies dealers rose 1.9 per cent. In volume terms, overall retail sales decreased 1.4 per cent in May. This report by The Canadian Press was first published July 24, 2025. The Canadian Press Sign in to access your portfolio
Yahoo
16-07-2025
- Automotive
- Yahoo
$4,400 tax deduction update sparks warning for millions of Aussies: 'Kick in the teeth'
The Australian Taxation Office (ATO) has confirmed it will not be increasing the motor vehicle cents per kilometre deduction rate for the new 2025-26 financial year. Taxpayers can claim 88 cents per kilometre under the method, up to 5,000 kilometres per year, which works out to a maximum deduction of $4,400. An ATO spokesperson told Yahoo Finance the cents per kilometre rate would not be increasing this financial year. The rate is updated to reflect recent average operating costs for cars and the annual movement of the private motoring subgroup of the Consumer Price Index. 'The cents per km rate will not increase and the Income Tax Assessment (Cents per Kilometre Deduction Rate for Car Expenses) Determination 2024 will remain effective at 88 cents per kilometre for the 2025/26 year,' the spokesperson said. RELATED ATO tax refund warning as Aussies boast about big $4,000 cash boosts Aussie tradie loses $110,000 house deposit due to small detail $105,000 superannuation warning over growing 'mini-retirement' trend Tax Invest Accounting director Belinda Raso said the decision not to increase the rate was a 'kick in the teeth' for taxpayers and she had expected an increase to at least 92 cents. 'With fuel skyrocketing, it doesn't even allow people to cover their costs. It's going to force people to actually keep a logbook because the cents per kilometre method is just not going to be worth it for anyone,' she told Yahoo Finance. 'Even if you're travelling less than 5,000 kilometres, my advice is to keep a logbook because you may find that it's actually going to be better for you, just purely with the cost of fuel, let alone repairs and everything else.' The ATO increased the set rate to 78 cents per kilometre in the 2023 financial year, 85 cents per kilometre in 2024, and 88 cents per kilometre in 2025. Car-related travel claims made up the bulk of work-related claims in the 2023-24 financial year. Some 3.6 million people claimed about $10.3 billion in car expenses. There are two methods that you can use to claim motor vehicle expenses for work-related use of your car — the 'cents per kilometre method' and the 'logbook method'. The cents per kilometre method lets you claim up to 5,000 kilometres at a set rate of 88 cents per kilometre. It covers all car expenses, including registration, insurance, maintenance, repairs and fuel costs. While you don't need to keep a logbook, you need to keep track of where you've gone, why and how often. The cost of driving to your workplace cannot be claimed. The logbook method lets you claim more than 5,000, but you need to keep a logbook for 12 weeks straight of the income year. You need to track all kilometre use, both personal and work use. You also need to keep all your running costs for the year, including registration, insurance, services, repairs and fuel (which can be estimated over a four-week period). Raso said Aussies should start their logbooks now, as this method would likely give them a better tax deduction than the cents per kilometre method. 'Unless we're talking under 1,000 kilometres, you should really get a logbook going now,' she told Yahoo Finance. 'It goes for 12 weeks straight [so] right now is the best time to actually get that going.' Raso said you needed to have a starting and ending odometer reading. The logbook will be valid for five years as long as you don't change cars, jobs, the usage of the car or your home or workplace address. If you use an app for your logbook, such as Driversnote, or if you use a book you can also claim this cost on your tax return. 'Any costs associated with managing that logbook will be deductible,' Raso in retrieving data Sign in to access your portfolio Error in retrieving data
CTV News
02-07-2025
- CTV News
Pedestrian hit by vehicle in Sarnia
A pedestrian was struck by a motor vehicle in Sarnia on July 1. The 17-year-old male was hit at approximately 11:45 p.m. on Lakeshore Road and Blackwell Sideroad. He was transported to Bluewater Health with serious injuries. Lakeshore Road remained closed until Wednesday but has now reopened.
Yahoo
28-06-2025
- Yahoo
Harnett man charged with theft of vehicle
A southwest Harnett County man was charged with larceny of a motor vehicle stemming from June 20. Christopher David Yates, 52, of the 2200 block of Marks Road in southwest Harnett County, allegedly stole a while 2005 Chrysler 300 valued at $2,800 from Tyler McCandless, an arrest warrant states. Yates was held in the Harnett County Jail on $10,000 bond, but was not listed in the jail roster as of Friday morning, June 27. A misdemeanor second-degree trespassing charge against him stemming from March 3, 2024 was dismissed, according to eCourts. No reason was given. However, Yates made an Alford plea on April 7 to felony failure to report a death stemming from May 25, 2023. In that case, Sanford resident Silvanus Nicquan Verbal, 38, died, but he did not die of natural causes, according to a court document. In an Alford plea, one does not admit guilt but acknowledges that the prosecution has enough evidence for a conviction. At that time, Yates listed an address in the 500 block of W. Main St. in Wallace in southeast North Carolina. He was arrested on May 27, 2023 and posted a $10,000 bond three days later. However, Yates failed to appear in court twice and was re-arrested on Sept. 8, 2023. He posted a $75,000 bond on Dec. 30, 2023. He was given credit for 118 days in jail and given a suspended sentence of four to 14 months and placed on unsupervised probation. He was ordered to pay fines and fees of $1,725. As of Friday, the amount due was $1,948, according to eCourts. Yates pleaded guilty on Oct. 11, 2022 to larceny by using a merchant's emergency exit door in Harnett County. He was given unsupervised probation for a year with credit for two days in jail. Felony charges of conspiracy and possession of stolen goods were dismissed as part of a plea agreement. According to a court document, Yates said he has a bachelor's degree in robotics.
