Question
ABC Co. provides a company car to Danny. The cost of the car was $20,000 including HST. The car was driven for a total of
ABC Co. provides a company car to Danny. The cost of the car was $20,000 including HST. The car was driven for a total of 26,000 kilometres during 2020 and its operating costs for the year were $4,000. It was used by Danny for the whole year. He drove a total of 9,000 kilometres for personal purposes.
Instructions:
Calculate the Auto Benefit that Danny will include in his employment income by filling in the five (5) blanks below. Do not leave any blanks - if there is no value to input, enter "none" :
| Standby Charge: | |
| Reduced Standby Charge: | |
| Operating Cost Benefit: | |
| Alternate Operating Cost Benefit: | |
| Total Auto Benefit: |
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Organizing Smart Buildings And CitiesPromoting Innovation And Participation
Authors: Elisabetta Magnaghi, Véronique Flambard, Daniela Mancini, Julie Jacques, Nicolas Gouvy
10th Edition
3030606066, 9783030606060
