Did you know?
On December 19, 2019 the Department of Finance announced changes to the allowable automobile deduction limits and expense benefit rates.
Effective starting in 2020 the limit on the deduction of tax-exempt allowances paid by an employer to an employee, who uses a personal vehicle for business purposes, will be increased from 58 cents to 59 cents per kilometer for the first 5,000 kilometers, and 53 cents for each additional kilometer.
For more information regarding automobile allowance and benefit rates you can follow the link below to the full December 19, 2019 Department of Finance release, or contact Gregory Harriman & Associates LLP by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at 1-403-934-3176.
Disclaimer
The information in this publication is current as of February 4, 2020.
This publication has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The publication cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact Gregory, Harriman & Associates LLP to discuss these matters in the context of your particular circumstances. Gregory, Harriman & Associates LLP, its partners, employees and agents do not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it.