Reduction in the value of a company car benefit
Your employer submits reports to the Incomes Register, including the tax value of the company car that the employer has given you as a fringe benefit. This value is automatically transferred to your pre-completed tax return. It is included in the sum total of the wage income from the employer or payor.
You can demand a tax deduction based on a reduced tax value of your company car in this section. An example of a situation where the value can be adjusted downwards is that you have driven more than 30,000 kilometres in business, or that your log-booked kilometres of private driving with the company car are low.
How to file in MyTax
Click the Show more link at the bottom of the page to make the Reduction in the value of a company car benefit section appear.
The fringe benefit consisting of a company car is included in the pre-completed tax return, but you demand that the value should be less
If your employer has sent the tax value to the Incomes Register, you can see your company car benefit under Pay and fringe benefits in the Pre-completed income and deductions section.
- Select the link with your employer's name. Your fringe benefits including the car are contained by the sum total of wage income for the year. To see the exact tax value, look up the company-car entry on your pay slip.
- Answer Yes to Do you claim reduction in the value of the car benefit? and fill in the details as appropriate.
The company car is missing from your wage income
If the sum total of wages shown on the pre-completed return is not inclusive of your company car benefit, follow the instructions below:
- Go to Pay and fringe benefits. First select your employer’s name, and then click the Add new wage income to add the tax value of your company car for the year. After this, you should also inform your employer/payor of the missing value, so they can send their corrections to the Incomes Register.
- Then go to Other deductions. Select Yes for Reduction in value of car benefit. Fill in the appropriate amounts.
Pre-completed income and deductions contain no information on your wages and salaries
If you have no wage amounts showing under Pre-completed income and deductions, or if there is no information on your company car, follow the instructions below:
- First, go to the Other income stage.
- Select Yes for Wages, salaries, fees and compensation.
- Select the Add new payor button, and then go to Amount of income to enter both your total wages and salaries and the total yearly value of your fringe benefit, the company car. After this, you should also inform your employer/payor of the missing value, so they can send their corrections to the Incomes Register.
- Then go to Other deductions. Select Yes for Reduction in value of car benefit. Fill in the appropriate amounts.
Further information
How to file on paper
If the company car’s value must be reduced and you make corrections on paper, submit Form 50A – Earned income and deductions.