Quote:
Originally Posted by Wormius
Where does 58 cents / km come from?
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58 cents is the revenue Canada max deduction for mileage.
If you assume you will own a car insurance becomes a sunk cost so that comes out. Once you do that if you drive a used car it’s between 20 and 40 cents depending on vehicle age and vehicle choice.
If you drive a 40k vehicle that you lease for three years you are probably at or above the 58 cents.