Government Announces the 2019 Automobile Deduction Limits and Expense Benefit Rates for Businesses

December 27, 2018 – Ottawa, Ontario – Department of Finance Canada The Department of Finance Canada today announced the income tax deduction limits and expense benefit rates that will apply in 2019 when using an automobile for business purposes. Most of the limits and rates that applied in 2018 will continue to apply in 2019,…

Government Announces the 2016 Automobile Deduction Limits and Expense Benefit Rates for Business

December 24, 2015 – Ottawa, Ontario – Department of Finance Finance Minister Bill Morneau today announced the income tax deduction limits and expense benefit rates that will apply in 2016 when using an automobile for business purposes. Although most of the limits and rates that applied in 2015 will continue to apply in 2016, there…

Government Announces 2014 Automobile Deduction Limits and Expense Benefit Rates for Business

Ottawa, December 30, 20132013-170 The Honourable Jim Flaherty, Minister of Finance, today announced that the automobile expense deduction limits and the prescribed rates for the automobile operating expense benefit will remain unchanged for 2014. Specifically: The ceiling on the capital cost of passenger vehicles for capital cost allowance (CCA) purposes will remain at $30,000 (plus…

Automobile Benefits Online Calculator

The Automobile Benefits Online Calculator allows you to calculate the estimated automobile benefit for employees (including shareholders) based on the information you provide. The Canada Revenue Agency (CRA) does not keep any of the data you provide to complete your calculation. The CRA suggests that you clear your browser cache after you have completed your…