Can I charge my corp mileage for use of my car, instead of entering CCA/expenses? Ex: CRA rate 55 cents for 1st 5k. If I drove 5K, corp pays me $2,700 - tax free.
Can I charge my corp mileage for use of my car, instead of entering CCA/expenses? Ex: CRA rate 55 cents for 1st 5k. If I drove 5K, corp pays me $2,700 - tax free.
I'm missing most of my fuel receipts, and I've heard I can just bill my company for mileage instead of the complexity of CCA/expenses. 2nd Question - If I have a choice, is one clearly better tax wise than the other?
Can I charge my corp mileage for use of my car, instead of entering CCA/expenses? Ex: CRA rate 55 cents for 1st 5k. If I drove 5K, corp pays me $2,700 - tax free.
Hello,
This question is taxes in nature please contact the CRA tax tip line for more information 1-800-267-6999.
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