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2010 Mileage rate allowance for Canada
10-08-2010, 02:36 AM
Post: #1
2010 Mileage rate allowance for Canada
What is the mileage rate allowance for Canadians businesses or taxpayers for the year 2010? I have seen rates for 2009 but not 2010.Huh
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10-08-2010, 02:38 AM
Post: #2
RE: 2010 Mileage rate allowance for Canada
The automobile allowance or mileage rates for 2008, 2009 and 2010 are:

* 52¢ per kilometre for the first 5,000 kilometres; and
* 46¢ per kilometre thereafter.

see the link
http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/...s-eng.html

The new rates for 2010 will be posted on cra's website in the year 2011

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10-08-2010, 09:58 AM
Post: #3
RE: GST/HST input tax credits on mileage allowance
When a business pays out mileage reimbursement to an employee, can the business claim an input tax credit towards the expense paid? If so, how is this calculated?
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10-08-2010, 11:08 AM
Post: #4
RE: 2010 Mileage rate allowance for Canada
Mileage Allowance Mileage is calculated by multiplying the kilometres traveled in Canada by the posted CRA rate according to the province in which the vehicle is registered. This rate may fluctuate and is adjusted every few months. As an example, if you are travelling 100 kilometres, multiply this by the eligible amount per kilometre, which may be .52 cents. Therefore, 100 multiplied by 50 equals $50.00. Since GST is included in gas prices, it must be identified in the mileage charge. Assuming $500.00 as the expense, multiply by 0.05 and divide by 1.05 to determine the GST, which is $23.80. (GST = $500/1.05 X .05.)

With the new HST rate for BC, use the formula multiply by 0.12 and divide by 1.12 to determine the HST paid. (HST=$500/1.12 x .12)

The expense portion will be the net amount after HST or GST is extracted.
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12-30-2010, 03:23 PM
Post: #5
RE: 2010 Mileage rate allowance for Canada
You can also benefit from certain things like HST/GST Credit or the Guaranteed Income Supplement under the Old Age Security Program.
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01-12-2011, 08:03 AM
Post: #6
RE: 2010 Mileage rate allowance for Canada
I heard that the rates were going down in 2011. However, it does not seem like gas prices have gone down. What do you guys know about the changing rate for 2011. It seems to me that it should be a bit greater.

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01-24-2011, 08:16 AM
Post: #7
RE: 2010 Mileage rate allowance for Canada
(10-08-2010 02:38 AM)Admin Wrote:  The automobile allowance or mileage rates for 2008, 2009 and 2010 are:

* 52¢ per kilometre for the first 5,000 kilometres; and
* 46¢ per kilometre thereafter.

see the link
http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/...s-eng.html

The new rates for 2010 will be posted on cra's website in the year 2011

Hello,

I live in Ontario. According to the CRA link provided in your reply, it said:
Ontario 55.0

It doesn't say first 5000km, or after 5000km, and it doesn't seem to match either rate that you mentioned above. Can I ask where you get the rate number? (I know your numbers are correct, but I'm confused about the CRA official number "55.0".)

Thanks very much!
Annie
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01-25-2011, 03:57 AM
Post: #8
RE: 2010 Mileage rate allowance for Canada
(01-24-2011 08:16 AM)annsxh Wrote:  
(10-08-2010 02:38 AM)Admin Wrote:  The automobile allowance or mileage rates for 2008, 2009 and 2010 are:

* 52¢ per kilometre for the first 5,000 kilometres; and
* 46¢ per kilometre thereafter.

see the link
http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/...s-eng.html

The new rates for 2010 will be posted on cra's website in the year 2011

Hello,

I live in Ontario. According to the CRA link provided in your reply, it said:
Ontario 55.0

It doesn't say first 5000km, or after 5000km, and it doesn't seem to match either rate that you mentioned above. Can I ask where you get the rate number? (I know your numbers are correct, but I'm confused about the CRA official number "55.0".)

Thanks very much!
Annie


Here is the link for what you are looking for.
Automobile allowance and benefits
http://www.cra-arc.gc.ca/tx/bsnss/tpcs/p...s-eng.html

The other link is for businesses using the simplied method to calculate their mileage expense. Hope this information helps.
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01-27-2011, 02:05 AM
Post: #9
RE: 2010 Mileage rate allowance for Canada
Thank you!

(01-25-2011 03:57 AM)creative accountant Wrote:  
(01-24-2011 08:16 AM)annsxh Wrote:  
(10-08-2010 02:38 AM)Admin Wrote:  The automobile allowance or mileage rates for 2008, 2009 and 2010 are:

* 52¢ per kilometre for the first 5,000 kilometres; and
* 46¢ per kilometre thereafter.

see the link
http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/...s-eng.html

The new rates for 2010 will be posted on cra's website in the year 2011

Hello,

I live in Ontario. According to the CRA link provided in your reply, it said:
Ontario 55.0

It doesn't say first 5000km, or after 5000km, and it doesn't seem to match either rate that you mentioned above. Can I ask where you get the rate number? (I know your numbers are correct, but I'm confused about the CRA official number "55.0".)

Thanks very much!
Annie


Here is the link for what you are looking for.
Automobile allowance and benefits
http://www.cra-arc.gc.ca/tx/bsnss/tpcs/p...s-eng.html

The other link is for businesses using the simplied method to calculate their mileage expense. Hope this information helps.
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01-03-2012, 08:05 AM
Post: #10
RE: 2010 Mileage rate allowance for Canada
Mileage Allowance Breadth is affected by adding the kilometres catholic in Canada by the acquaint CRA bulk according to the arena in which the car is registered. This bulk may alter and is adapted every few months. As an example, if you are travelling 100 kilometres, accumulate this by the acceptable bulk per kilometre, which may be .52 cents. Therefore, 100 assorted by 50 equals $50.00. Since GST is included in gas prices, it have to be articular in the breadth charge. Assuming $500.00 as the expense, accumulate by 0.05 and bisect by 1.05 to actuate the GST, which is $23.80. (GST = $500/1.05 X .05.)

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