Answered step by step
Verified Expert Solution
Question
1 Approved Answer
19. During 2021, Mr. Shaun Badry is provided with an automobile that is leased by his employer. The monthly payment on this lease is
19. During 2021, Mr. Shaun Badry is provided with an automobile that is leased by his employer. The monthly payment on this lease is $565, including $65 of HST. During 2021, he drives the car a total of 35,000 kilometers, of which 27,500 are for employment purposes with 7,500 for personal use. The automobile is available for use by Mr. Badry for a total of 265 days during 2021. When the automobile is not being used by Mr. Badry, it must be returned to the employer's premises in accordance with company policy. Mr. Badry's standby charge is: A. $1882.95 B. $1,695.00 GD C. $2,259.54 D. $1,848.00 20. Mr. Badry's Operating Benefit is: A. $1,695.00 B. $2,025.00 C. $1,695.00 D. $848.00 21. Mr. Badry's minimum taxable benefit for the use of the automobile is: $1,695.00 A. B. $2,025.00 C. $2,259.54 D. $2,543.00
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started