The rates for automobile expenss are increasing for 2006
The general prescribed rate used to calculate the taxable benefit for an employee's personal use of an employer-provided automobile is 22 cents per kilometre. The rate for employees whose principal job is to sell or lease automobiles in 19 cents per kilometre.
The limit for tax-exempt allowances employers pay to employees is 50 cents per kilometre for the first 5,000 kilometres and 44 cents per kilometre for each additional kilometre.
The limit for tax-exempt allowances employers pay to employees is 50 cents per kilometre for the first 5,000 kilometres and 44 cents per kilometre for each additional kilometre.
