10.12.2020
On December 21, 2020 the Financedepartment announced the new auto limit for 2021and new Automobile standby charge due to COVID-19.
It was proposedthat the employees who have in 2020 and 2021 the same employer as in 2019, will be allowed to use 2019 automobile usage to determine eligibility to reduce standby charge.
For more information, please refer to :
https://www.canada.ca/en/department-finance/news/2020/12/temporary-adjustments-to-the-automobile-standby-charge-for-the-2020-and-2021-taxation-years-due-to-covid-19.html
Tax-exempt allowance
The allowance rate for using personal vehicle for the business purpose will be remained the same except Northwest Territories, Nunavut and Yukon:
- at 59 cents per kilometre for the first 5,000 kilometres driven,
- at 53 cents per kilometre for each additional kilometre.
All articles
