Calculating the taxable benefit provided by a company car is a time-consuming and intricate process. CFS can help your drivers with this difficult process by managing the collection and calculation of taxable benefits. We will issue electronic driver logs to all of your drivers and regularly follow up with them on their reporting of personal and business kilometers. With our years of experience in this area, we can detect anomalies in reporting and address them to ensure the process is running smoothly and accurately.
CFS will also perform the necessary calculations to determine the taxable benefit amount and relay this information to your payroll department at year’s end.