Automobile Deductions and Benefits

 

2008-2011

2012

2013-2014

2015

2016

2017

Reasonable per kilometre allowance paid to employees (for Ontario):


First 5,000 employment km driven in the year

Each additional employment-related kilometre





$0.52

$0.46





$0.53

$0.47





$0.54

$0.48





$0.55

$0.49





$0.54

$0.48





$0.54

$0.48

Maximum cost of automobile for capital cost allowance1: $30,000.00 plus taxes $30,000.00 plus taxes $30,000.00 plus taxes $30,000.00 plus taxes $30,000.00 plus taxes $30,000.00 plus taxes
Maximum deductible monthly interest cost on automobile loans: $300.00 $300.00 $300.00 $300.00 $300.00 $300.00
Maximum deductible monthly lease payment2: $800.00 $800.00 $800.00 $800.00 $800.00 $800.00

Operating cost taxable benefit for personal use of employer-provided vehicle (per kilometre):

Employees employed in selling or leasing automobiles

Other employees

 

$0.21

$0.24

 

$0.23

$0.26

 

$0.24

$0.27

 

$0.24

$0.27

 

$0.23

$0.26

 

$0.22

$0.25

1Certain vehicles are exempt from these limits. Please consult your tax advisor for further information. The maximum amounts are based on the automobile's year of purchase.

2This limit is for general purposes only. The actual amount deductible is based on a formula equal to the lesser of three amounts. Please consult your tax advisor for further information. The maximum amounts are based on the year the lease was entered into.

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