TaxTips.ca
Canadian Tax and
Financial Information
Automobile Sales People

Ads keep this website free for you.
TaxTips.ca does not research or endorse any product or service appearing in ads on this site.  Before making a major financial decision you  should consult a qualified professional.

Looking for US tax information?
See
USTaxTips.net

Need an accounting, tax or financial advisor? Look in our Directory.      Stay Connected with TaxTips.ca!

Home
What's New
Calculators
Personal Tax
Business
Sales Taxes
Free in 30!
Financial Planning
RRSP RRIF TFSA
Real Estate
Stocks Bonds etc.
Seniors
Disabilities
Canada
Alberta
British Columbia
Manitoba
Ontario
Quebec
Saskatchewan
Atlantic Provinces
Territories
Federal Budget
Provincial Budgets
Statistics etc.
Glossary
Site Map
Directory
Advertise With Us
Contact Us/About Us
Links & Resources



Business   ->   Automobiles, Passenger Vehicles and Motor Vehicles   ->   Automobile Taxable Benefits -> Automobile Sales People

Automobile Sales People

Income Tax Act s. 6(2.1), Income Tax Regulations R7305.1

If an individual is "employed principally" in selling or leasing automobiles, then the standby charge and operating cost benefits will be less.

For the operating cost benefit, the following amounts are used for automobile sales people:

Years Rate per
km
2017 $0.22
2016 $0.23
2013-2015 $0.24
2012 $0.23
2008-2011 $0.21
2006/2007 $0.19
2005 $0.17
2004 $0.14

For the standby charge benefit, if the employer has purchased one or more automobiles in the year, then at the option of the employer:

bullet1.5% is used instead of 2%, and
bulletthe cost of the automobile is the greater of
bulletthe average cost of all new automobiles purchased by the employer during the year, and
bulletthe average cost of all new and used automobiles purchased by the employer during the year

Other Resources

All topics related to vehicles and business

Revised: September 19, 2017

 

Copyright © 2002 - 2017 Boat Harbour Investments Ltd. All Rights Reserved  See Reproduction of information from TaxTips.ca

Facebook  | Twitter  |  Google + |  Monthly Newsletter Sign-up  What’s New E-mail Notification RSS News Feed
The information on this site is not intended to be a substitute for professional advice.  Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage. 
Please see our legal disclaimer regarding the use of information on our site, and our Privacy Policy regarding information that may be collected from visitors to our site.