Fixed rate calculation
Disclaimer
We do not guarantee the accuracy of this copy of the CRA website.
Scraped Page Content
Fixed rate calculation
The fixed rate for 2024 is 33¢ per kilometre of personal use (including GST/HST and PST).
If the employee's main source of employment is selling or leasing automobiles, the fixed rate for 2024 is 30¢ per kilometre of personal use (including GST/HST and PST)
Rates for previous tax years can be found in older versions of the Guide T4130, Employers' Guide – Taxable Benefits and Allowances or in section 7305.1 of the Income Tax Regulations.
Note
When you use the fixed rate calculation, you still have to keep records of this benefit.
Related links
- Calculating automobile benefits
- Government Announces the 2021 Automobile Deduction Limits and Expense Benefit Rates for Businesses and Temporary Adjustments to the Automobile Standby Charge due to COVID-19 (Department of Finance Canada website)
- Government announces the 2022 automobile deduction limits and expense benefit rates for businesses (Department of Finance Canada website)
Page details
- Date modified:
- 2023-12-27