Question
Corinne Ming works for Fast Tracking in Alberta and is provided with a company-leased automobile. The automobile was in Corinnes possession for 365 days. Of
Corinne Ming works for Fast Tracking in Alberta and is provided with a company-leased automobile. The automobile was in Corinnes possession for 365 days. Of the 29,358 kilometres driven, 14,012 kilometres were for business purposes. The monthly lease cost of the vehicle was $415.70, excluding the GST calculated at 5%.
Corinne requested in writing that Fast Tracking use the optional operating cost method if all the conditions apply. She did not reimburse the company for any of the expenses associated with the automobile.
Calculate Corinnes annual automobile taxable benefit.
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