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TAXATION – Automobile taxable benefits

TAXATION – Automobile taxable benefits

TAXATION – Automobile taxable benefits

January 11,2017 Posted by:

2017 NEW RATES FOR AUTOMOBILE BENEFITS

The Department of Finance issued the new rates to compute the stand-by charge and the operating cost benefits for purposes of calculating the taxable benefits on employer provided vehicles to employees. In summary, there are no changes compared to 2016, except for the operating cost benefit. The operating cost benefit is now based on 0.25$ per kilometre for personal use.

For more detailed information on the stand-by charge and other deduction limits, see the following link:

pdf-car-taxable-benefit