Company wants to get me a car for work. I have been given a budget of 600$ a month before taxes. probably 0$ down.
please no "leasing is a waste... better to buy" rants or trolls. this is on the companys dime.
on another note. this now becomes a taxable benefit. how much extra a year with this add to my taxes? thanks in advance...
PS Francais est A-OK aussi![]()
The taxable benefit is not based on the value of the car. Your company, if they do it correctly, will add an amount to your taxable benefits based on how much you drive your car (for personal use), given that they pay 100% of your gas.
my co-workers gets 100-200$ added to their bi-weekly pay cheque. So think about 3000$ more in your gross income.