New Automobile Benefits On-line Calculator

by Tax Guy - Burlington Accountant on February 6, 2009 Print This Post Print This Post

Use the calculator to determine the automobile benefit amount you should prorate to the employee’s pay periods. Add the resulting amount to the employee’s salary and other benefits/allowances, if applicable, to determine the total amount subject to Canada Pension Plan (CPP) / Quebec Pension Plan (QPP) contributions and income tax. The motor vehicle benefit is not insurable and therefore not subject to Employment Insurance (EI) premiums.

The calculator may be accessed at:

About The Tax Guy...

Dean Paley CGA CFP is a Burlington accountant and financial planner who services individuals and business owners locally, nationally and internationally. Dean has appeared in the National Post, Toronto Star and Metro News.

To find out more, visit Dean's website Dean Paley CGA CFP or connect via Twitter @DeanPaleyCGACFP.

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