Automobile Deduction Limits

Automobile Deduction Limits


Item
2019 2018

2017

2016

2015

Non-taxable allowance for employee-owned automobiles1

   

 

 

 

First 5,000 of employment related km

$0.58/km

$0.55/km

$0.54/km

$0.54/km

$0.55/km

Additional employment related km

$0.52/km

$0.49/km

$0.48/km

$0.48/km

$0.49/km

Yukon, NWT & Nunavut          

First 5,000 of employment related km

$0.62/km

$0.59/km

$0.58/km

$0.58/km

$0.59/km

Additional employment related km

$0.56/km

$0.53/km

$0.52/km

$0.52/km

$0.54/km

 

 

 

 

 

 

Taxable Benefits

 

 

 

 

 

Employer paid operating costs for personal km

$0.28/km

$0.26/km

$0.25/km

$0.26/km

$0.27/km

Employees selling or leasing automobiles for personal km

$0.25/km

$0.23/km

$0.22/km

$0.23/km

$0.24/km

Automobile Standby Charge

   

 

 

 

Employer-owned automobiles

2% * cost of vehicle x days available / 30

Employer leased automobiles

 2/3 x monthly lease cost x days available / 30

Reduction2

Above x Personal  km/1,667 x months auto is available

 

   

 

 

 

Capital Cost and Deduction Limits

   

 

 

 

Owned automobiles

$30,000 + taxes for purchases after 2018

Interest on auto loan

$300/month for purchases after 2018

Leased automobiles 3

$800/month + taxes for leases after 2018

1 - Northern territories subject to limits set at 4 cents higher
2 - Standby charge reduction only available if:

  • employer requires the employee to use the car to carry out employment duties
  • business use is greater than 50%
  • personal km average less than 1,667 per month

3 - Lease maximums are adjusted by formula by the MRSP of the vehicle and therefore may be less than the amount stated above