Automobile Deduction Limits
Item |
2020 | 2019 | 2018 |
2017 |
2016 |
Non-taxable allowance for employee-owned automobiles1 |
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First 5,000 of employment related km |
$0.59/km |
$0.58/km |
$0.55/km |
$0.54/km |
$0.54/km |
Additional employment related km |
$0.53/km |
$0.52/km |
$0.49/km |
$0.48/km |
$0.48/km |
Yukon, NWT & Nunavut | |||||
First 5,000 of employment related km |
$0.63/km |
$0.62/km |
$0.59/km |
$0.58/km |
$0.58/km |
Additional employment related km |
$0.57/km |
$0.56/km |
$0.53/km |
$0.52/km |
$0.52/km |
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Taxable Benefits |
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Employer paid operating costs for personal km |
$0.28/km |
$0.28/km |
$0.26/km |
$0.25/km |
$0.26/km |
Employees selling or leasing automobiles for personal km |
$0.25/km |
$0.25/km |
$0.23/km |
$0.22/km |
$0.23/km |
Automobile Standby Charge |
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Employer-owned automobiles |
2% * cost of vehicle x days available / 30 |
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Employer leased automobiles |
2/3 x monthly lease cost x days available / 30 |
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Reduction2 |
Above x Personal km/1,667 x months auto is available |
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Capital Cost and Deduction Limits |
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Owned automobiles |
$30,000 + taxes for purchases after 2018 |
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Interest on auto loan |
$300/month for purchases after 2018 |
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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:
3 - Lease maximums are adjusted by formula by the MRSP of the vehicle and therefore may be less than the amount stated above