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Vehicle reimbursement programs

What is a program standard vehicle?

A program standard vehicle is a car on which vehicle reimbursement programs are based. According to the IRS, they can cost up to $56,100.

Cents per Mile ("CPM")

CRA sets new per kilometre rate for 2022

For Canadian employers, the new year brings a new per kilometre reimbursement rate. In 2022, the new Canada Revenue Agency rate is set at ¢61.

Fixed and Variable Rate ("FAVR")

Why CFOs are choosing FAVR in 2022

Outsourced FAVR plans save companies money by finding efficiencies in vehicle programs. This is more urgent in 2022 than ever before.

Cents per Mile ("CPM")

The IRS standard mileage rate for 2022

The IRS has today announced an increase in the standard mileage rate for 2022. It has increased from ¢56 to ¢58.5.

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