CCH iFirm Tax Forms 2021.20.31

T4 – Operating Cost Benefit [AutoTax]

Under paragraph 6(1)(k), the operating cost benefit is equal to 25 cents (22 cents for sales persons) times the number of personal-use kilometers travelled by the employee. No other calculation is required since this amount is deemed to include the GST under paragraph 6(1)(k), if applicable.

See Also

Reducing the Operating Cost Benefit

Standby Charge