The full amount of a lease payment is tax deductible provided the contract qualifies as a true lease under CRA guidelines.

If the lease contract qualifies as a true lease under CRA (Canada Revenue Agency) guidelines, then the full lease payment can be tax-deductible. However, if the lease is considered a finance lease or capital lease, only the interest portion of the lease payment is tax-deductible. It is essential to understand the difference between a true lease and finance lease to determine the deductibility of lease payments.