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Can I track business driven kms and multiply these by CRA's allowance of $0.58/km for first 5000 etc. to compute Auto expense?

 
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Can I track business driven kms and multiply these by CRA's allowance of $0.58/km for first 5000 etc. to compute Auto expense?

No. For employment or business/rental expenses, using “Mileage” rates is an option in the US, but NOT here in Canada. Per-kilometre rates are used for Medical expenses, Moving expenses & the Northern Residents Deductions. The per-kilometre rate can also be used by Employers when setting automobile and motor vehicle allowances for their employees.

 

This CRA page details what is allowable for Motor Vehicle Expenses for Employees: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4044/employment-ex...

 

This is their page on Motor Vehicle Expenses for Self-Employed/Partnerships: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partners...

 

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