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 Auto Limits
Auto Limits
In 2009, employees may be reimbursed at 52 cents per km on the first 5,000 business kms and 46 cents thereafter. Employees will be assessed a taxable benefit at 24 cents per km for personal kms on a company car. The purchase limit is $30,000, and interest expense and lease amounts are unchanged.
Taxation
Year
|
Reimbursement:
0 - 5000 kms
> 5000 kms
|
Taxable Benefit
Assessed
(Personal kms) |
Purchase Limit |
2010 |
.52 / km
.46 / km |
.24 / km |
$30,000 |
2009 |
.52 / km
.46 / km |
.24 / km |
$30,000 |
2008 |
.52 / km
.46 / km |
.24 / km |
$30,000 |
2007 |
.50 / km
.44 / km |
.22 / km |
$30,000 |
2006 |
.50 / km
.44 / km |
.22 / km |
$30,000 |
Article updated: Feb 2010
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