Calculate Shultz Consulting taxable benefit

On June 1, Manjeet approached Samantha for an employee loan. Shultz Consulting gave him $25,000 and he is paying interest at 1% per year. You have checked and the prescribed rate for each quarter of the year was 3% (use number of days in your calculation for the loan interest benefit, there are 366 days in 2020). Shultz Consulting supplied a vehicle for employees Manjeet to use. The vehicle originally cost $48,000. Manjeet drove the vehicle 43,500 kilometres during the year, 24,000 of which were personal. Manjeet had $4,000 taken off of his paycheque during the year to partially pay back operating expenses. On June 1, Manjeet approached Samantha for an employee loan. Shultz Consulting gave him $25,000 and he is paying interest at 1% per year. You have checked and the prescribed rate for each quarter of the year was 3% (use number of days in your calculation for the loan interest benefit, there are 366 days in 2020). Shultz Consulting supplied a vehicle for employees Manjeet to use. The vehicle originally cost $48,000. Manjeet drove the vehicle 43,500 kilometres during the year, 24,000 of which were personal. Manjeet had $4,000 taken off of his paycheque during the year to partially pay back operating expenses