On December 30, 2016, Finance Minister Bill Morneau announced the income tax deduction limits and expense benefit rates that will apply in 2017 when using an automobile for business purposes.
For 2017, only one of the automobile limits changed. The operating expense taxable benefit for personal use of a vehicle is reduced 1¢.
The maximum deductible tax exempt vehicle allowance is as follows:
FOR IMMEDIATE RELEASE
December 14, 2016
O’Leary, PE: MRSB Group has acquired the accounting practice of Bruce J. Burden Chartered Professional Accountants.
Bruce J. Burden has been serving clients in western and central PEI for the past 12 years in his own accounting practice and was involved in the public accounting industry for the better part of 10 years prior. During this time, Bruce has dedicated himself to clients in western and central PEI and has provided quality accounting and tax services.