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Claire Rozon works for Lebrun Ind. in Montral, PQ. She has a companyleased automobile for her use during the year. Given the following information, calculate

Claire Rozon works for Lebrun Ind. in Montréal, PQ. She has a company‐leased automobile for her use during the year. Given the following information, calculate Claire's annual taxable benefit. Claire has asked the company to use the optional method of calculating her operating cost benefit.

 

1)     Monthly cost of the automobile $400.00

2)     GST on monthly cost of automobile

3)     QST on monthly cost of automobile

4)     Days available (Jan 1 - Dec. 31, of the current year) 365

5)     Total kilometers driven 50,000

6)     Personal kilometers driven 22,000                                          

7)     Employee reimbursement $0.00

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Calculation of Claires Annual Taxable Benefit Step 1 Calculate the annual operating cost of the automobile Annual cost Monthly cost x 12 400 x 12 4800 ... blur-text-image

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