LeasePlan is there for you!
As you will undoubtedly be aware, the World Health Organization has now officially declared that the Coronavirus is a pandemic. Although we’re not in the office, LeasePlan is open.
Over the past few weeks, we have worked hard both internally and with our network of trusted suppliers to ensure that we can continue to provide the best service possible to keep you safely on the road and to support limiting spreading the virus.
We would like to ask for your cooperation to ensure we can offer the fullest possible support during these challenging times.
As soon as there are new measures or updates regarding our services, you will find them here.
Tax Benefits Announcement
The Department of Finance Canada on December 21,2020 has released a Temporary Adjustments to the Automobile Standby Charge for the 2020 and 2021 Taxation Years Due to COVID-19. This is in response to the drivers who would normally incur more business than personal mileage and would be eligible for a reduction to their Automobile Standby Charge & Operating Expense Benefit. The pandemic has resulted in some drivers having their incurred personal Km’s to be more than 50% of their total mileage driven in the company vehicle, thereby losing their eligibility for the noted reductions.
The government has now allowed the use of a drivers prior 2019 business/personal mileage ratios to determine if an affected driver is eligible to access the reduced Standby Charge and Operating Expense Benefit Charge in 2020 and 2021. This is only applicable for employee’s with an automobile provided by the same employer as in 2019.
In response to this adjustment, we will be revising our Taxable Benefits calculations to include these measures. For any clients that have already received their Taxable Benefit Report for the 2020 year, we will send out a revised report, highlighting the affected employees, over the next few business days.
The following is the link to the Finance Canada website Temporary Adjustments to the Automobile Standby Charge for the 2020 and 2021 Taxation Years Due to COVID-19 - Canada.ca .
If you have any questions, please send an email to Taxben@fossnational.com.
If there are changes in our services, you can find the latest updates here.