Is car allowance taxable?
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Is car allowance taxable?
I.E. if my employer gives me a monthly car allowance, is this taxable in Ontario or will I get the full amount from my employer? If yes, is there a way to structure it so that I can keep the governments hands off my money?
#6
If the amount is reasonable, you can track your car expenses and deduct them.
Your employer has to sign a T-2200 (I think) stipulating that you must use your own car in your job.
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