The CRA Standard Rate Remains The Same For 2021

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At year end the Department of Finance Announces the coming years Automobile Deduction Limits and Expense Benefit Rates for Business. This is commonly referred to a the CRA Standard Kilometer Rate.

CRA STANDARD KILOMETER RATE

Effective January 1, the CRA Cents Per Kilometer Rate for 2021 remains at .59 cents per kilometer for the first 5,000 kilometers driven. For each kilometer over 5,000 the rate remains .53 cents per km. The standard kilometer rate for business is based on an annual study of the fixed and variable costs of operating an automobile.

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Original Article Source Credits:   CarData , https://cardataconsultants.com/

Article Written By:  CarData Admin

Original Article Posted on:  Dec 23, 2020

Link to Original Article:  https://cardataconsultants.com/resources/blog/cra-standard-rate-remains-2021/?fbclid=IwAR1Cout1EBPqqoGVN8bC1hhwYCtnBAo4LlGyzxxQs_nwx1SiIaFNCKhbHSI

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