K Ltd. paid an employee a tax-free travel allowance of $4,500 based on 8,000 kilometres of...
K Ltd. paid an employee a tax-free travel allowance of $4,500
based on 8,000 kilometres of out-of-town driving. What amount can K
deduct for tax purposes?
Homework Answers
For tax free travel allowance, 43 cents per km is allowed.
So allowed expense is 8000*0.43 = $3440
Add Answer to:
K Ltd. paid an employee a tax-free travel allowance of $4,500
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