Personal truck, for company use

[snopro]

I have a feeling that your wife knows my brother and sister in law in GP
Thanks for the advice


So then is .45 too less, Ken???

I think, from what I have read. That .45 is ok???

I feel they are being generous with me. I pocket about $100 every trip after I pay out my fuel used. I have brought customers sleds down for service on occasion in my trailer or there's and I burn about $20 more diesel. Then I feel like someone should be paying me more but have yet to be offered anything.

 

[RMK Junky]

I have a feeling that your wife knows my brother and sister in law in GP

PM sent ..

 

[Trashy]

PM sent ..

PM replied...

 

[Trashy]

Even if you get it paid as an expense you can claim extra for your payments, interest, fuel, and maintenance.

I claim between 80%-85% company use on my truck every year. I still get my compensation from the company and also receive back for my taxes at the end of the year a % of all vehicle costs. As said above never claim 100% on taxes or you'll be top of the list for an audit but if you keep track of you Kms and your fuel expenses youll be fine ad get some money back on top of what your company had paid you.

Just my .02 been doing it that way for 5 years with the company I'm with.

Oil patch rates are much higher but in the construction industry , in Edmonton at least, .40-.50 is pretty standard from what u shopped around when I was working out my deal for my company

For me, being a newbie at this. This does make sense......

 

[Stompin Tom]

Even if you get it paid as an expense you can claim extra for your payments, interest, fuel, and maintenance.

I claim between 80%-85% company use on my truck every year. I still get my compensation from the company and also receive back for my taxes at the end of the year a % of all vehicle costs. As said above never claim 100% on taxes or you'll be top of the list for an audit but if you keep track of you Kms and your fuel expenses youll be fine ad get some money back on top of what your company had paid you.

Just my .02 been doing it that way for 5 years with the company I'm with.

Oil patch rates are much higher but in the construction industry , in Edmonton at least, .40-.50 is pretty standard from what u shopped around when I was working out my deal for my company

Unless you have a leased truck, you can not claim a percentage of your payments. You can claim a percentage of interest on a loan as well as depreciation.

The first thing a guy should do if you start getting mileage allowance is put a diary in your truck. Every morning when you arrive at work write down your mileage, every night when you leave record it as well. Keeping a daily record is what Revenue Canada wants from you and will pay off in spades if they come looking. A good friend got audited a couple of years ago, he has been getting an allowance for about 10 years now, they found discrepancies in his records, levied a penalty for that year, then went back an addition 6 years and prorated the same penalty as well as interest. Ended up with a $14,000 bill from Revenue Canada. That was based on about $115 per month difference in their figures. It adds up fast.

 

[RMK Junky]

You might want to form a company and pimp yourself out ... Lol

 

[Trashy]

You might want to form a company and pimp yourself out ... Lol

I like to sleep at night

 

[Syclone74]

$150 a day and fuel supplied which still isn't enough.

 

[Trashy]

$150 a day and fuel supplied which still isn't enough.

So what is???

I'm just looking for honest feed back. If you think you are being screwed, then do something about it.

 

[the_real_wild1]

$150 a day and fuel supplied which still isn't enough.

You get paid 150 a day plus free fuel plus wages and you don't think that is enough to pay for a vehicle? That is 4500 month!!! What planet are you from where that does not pay for a vehicle?

 

[sumx54]

You get paid 150 a day plus free fuel plus wages and you don't think that is enough to pay for a vehicle? That is 4500 month!!! What planet are you from where that does not pay for a vehicle?

i had this deal while working in Fort Liard one winter.... Completely phucked my truck.... Won't do that again. Be a good deal if you weren't stuck beating it down cut lines all day long.

 

[Syclone74]

Honest feedback is when you use your own personal truck for work you get screwed cause the company doesn't pay for repairs and when you beat your truck down cut lines...pipeline right of ways gravel roads or pothole filled city streets for .45c a km or $4500 a month still don't cover repairs when you blow a tire or someone runs into you. Sure there's insurance but its personal choice on if your willing to use your own ride to do company work cause you pay for wear and tear for minimal pay and it don't matter if its worth $500 or $50000. repairs hurt the bank account. And the company don't pay a dime.

 

[MrHankey]

20$ hr is what we are paid 10hr days put on 130km half hwy half gravel

 

[Bogger]

We pay $0.48/km plus allow employees to expense fuel, but in construction that's high and not the norm. I was in the same boat as chris when I worked there and it covered my expenses and maintenance and I didn't use it for taxes. But I was running a 4 cyl...

$0.40-$0.50 is the standard.... especially if it's short term and they treat you well

 

[mach123]

Well when you sunmit to gov for taxes you can write off .61 per km. I get .63 in town and .53 hyw charge a buck if I could, like others said cost more in repairs............

 

[Trashy]

I am not oil field, I'm construction!!!!

Again..... if you oil field ppl feel like your getting screwed
Then leave what you are doing. It's pretty simple......

MacDonalds is always hiring.

 

[Trashy]

Honest feedback is when you use your own personal truck for work you get screwed cause the company doesn't pay for repairs and when you beat your truck down cut lines...pipeline right of ways gravel roads or pothole filled city streets for .45c a km or $4500 a month still don't cover repairs when you blow a tire or someone runs into you. Sure there's insurance but its personal choice on if your willing to use your own ride to do company work cause you pay for wear and tear for minimal pay and it don't matter if its worth $500 or $50000. repairs hurt the bank account. And the company don't pay a dime.

What is a cut line???

 

[the_real_wild1]

Honest feedback is when you use your own personal truck for work you get screwed cause the company doesn't pay for repairs and when you beat your truck down cut lines...pipeline right of ways gravel roads or pothole filled city streets for .45c a km or $4500 a month still don't cover repairs when you blow a tire or someone runs into you. Sure there's insurance but its personal choice on if your willing to use your own ride to do company work cause you pay for wear and tear for minimal pay and it don't matter if its worth $500 or $50000. repairs hurt the bank account. And the company don't pay a dime.

So you are getting paid 54000 a year for the truck. So I go buy a new truck for 40,000. I drive the piss out of it for a year. I put tires on it, plus some repairs. I then sell the truck next year for 20,000 to 30,000. I don't see how you cant make money on the deal unless you abuse the truck.

 

[tfitz]

I don't really know much about rates per km what I do know is patch rates are much higher! Also my wife works for alberta health services and when she uses her personal vehicle for work she get $0.51 a km.

 

[Trashy]

Just phucking with you.....

I know what a cut line is!!!

I was just wondering if this is right or wrong??? Seeing how I have never done this.

Feel free to hijack this thread... Because there is many that want to know, but don't know.