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GIFI code for car/Mileage expenses

 
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Last Post by MadanCA Team 3 years ago
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Posts: 0
 Anonymous
Mar 29, 2023 6:01 pm
(@Anonymous)
Joined: 1 second ago
[#503]

What Gifi code should be used for car/mileage expenses. For the corporation, we track the mileage used for business and expense a rate according to CRA's website (68cents/km in 2023). Should Gifi 8915 (Motor vehicle rentals) be used? or 9281 (Vehicle expenses)? SCH125

Thanks.
Reference: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/benefits-allowances/automobile/automobile-motor-vehicle-allowances/reasonable-kilometre-allowance.html


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Posts: 663
 MadanCA Team
May 18, 2023 2:47 pm
(@dexter)
Joined: 3 months ago

Report the mileage expense on GIFI code 9281 (vehicle expenses).


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