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  • Conner Lantz
    Post count: 4836
    Conner Lantz
    Post count: 4836

    From Glenn: Alas, this Q calls for an expertise that I don’t possess. So I have called in the heavy artillery–our resident expert, Alan McEwen
    From Alan: There isn’t a flat dollar amount that can be given for the taxable benefit associated with the provision of a car to an employee. Instead there are formulas, given in this guide,, that must be used. The factors in the formula that affect the result are based on:

    • The value of the car, whether the purchase price or monthly lease cost;
    • The portion of the year the car is available to the employee;
    • The ratio of business to personal use;
    • Whether the employer has paid operating costs in addition to providing the car itself; and
    • Whether the employee has repaid any portion of the benefit received.

    Let me know if I can be of further help,
    Alan McEwen & Associates
    855 Berwick Road South, Qualicum Beach, BC  V9K 1S7

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