Finance announced a two cent increase to the prescribed rates used to compute certain employee taxable benefits for 2022. The rate used to determine the taxable benefit relating to the personal portion of automobile operating expenses paid by employers increased to 29 cents per kilometre (from 27 cents), as of January 1, 2022. The rate used to determine the taxable benefit of an employee who is employed principally in selling or leasing automobiles has also increased to 26 cents per kilometre (from 24 cents) for 2022.

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