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Per-kilometre allowances made by an employer to an employee for the use of their automobile...

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Accounting

Per-kilometre allowances made by an employer to an employee for the use of their automobile for employment purposes can always be deducted by the employer, in full, in the determination of business income.
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Part 1
A.
False, ITR 7306 together with ITA18(1)(r) limits the amount that can be deducted by the employer in 2023 to $0.62 for the first 5 comma 000 kilometres and $0.68 for amounts in excess of 5 comma 000 kilometres.
B.
False, ITR 7306 together with ITA18(1)(r) limits the amount that can be deducted by the employer in 2023 to $0.68 for the first 5 comma 000 kilometres and $0.62 for amounts in excess of 5 comma 000 kilometres.
C.
True, all automobile use for employment purposes can be deducted for the determination of business income.
D.
False, ITR 7306 together with ITA18(1)(r) limits the amount that can be deducted by the employer in 2023 to $0.68 for the first 10 comma 000 kilometres and $0.62 for amounts in excess of 10 comma 000 kilometres.

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