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When employers provide employees with automobiles to help them perform their job functions, or rather give allowances or reimbursement of expenses, the tax implications can be remarkably complex.
To help, this book provides an overview and analysis of relevant tax rules as they were 9 February 2017 It also discusses the tax consequences that arise when an automobile is provided to a shareholder or partner or when a person uses autonomous automobile for business.
Car Company, expense allowances and reimbursements can increase productivity, ensure job satisfaction and improve things that benefit employees and employers care.
Tax authorities have something else in mind to ensure that employees do not receive personal benefits tax free when the salary, bonuses and other compensation would result in an income tax the result is a complex set of rules that levy tax on any personal use a car provided by the employer and some car allowances the rules also allow employees to claim certain deductions if they use their own vehicles in the course of theiremployment functions.
Tax law in Canada is complex and constantly changing, affected by frequent legislative changes, judicial decisions and administrative practices of tax authorities This booklet is not a substitute for professional advice, you should look for when considering important actions Nevertheless , will answer many questions and help you understand the tax implications of automobiles and supplied-salaried employees.
Our employee newspaper employees log can be used to record information that supports motor vehicle expenses and calculate taxable benefits you can download.
A log that can be printed and affairs of the track and staff conduct used car costs and benefits of a car boasts Tax Guide 2017 employees log.
An electronic journal to track business expenses and driving and personal benefits Log Annual Summary 2017 automobile expenses and annual benefits Contents Connect.
To help support this complex topic, contact your advisor PwC or one of the persons mentioned on page 25 of the Guide of the car tax.
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Car expenses and benefits A tax guide and employee newspaper (2017) PwC Canada, spending, benefits, guide, used.