Question
During 2020, Aidan was provided with an automobile that was purchased in 2018 by his employer, Monopoly Inc. The cost of the car was $37,815,
During 2020, Aidan was provided with an automobile that was purchased in 2018 by his employer, Monopoly Inc. The cost of the car was $37,815, including all taxes. Monopoly paid $3,949 for the operating costs of the car during 2020. Aidan used the car for 6 months during the year and during the months of non-use, it was returned to Monopoly's premises. During 2020, he drove the car a total of 18,281 kilometers of which 6,935 kilometers were for employment-related travel and the remainder was for personal use. Aidan reimbursed Monopoly $65 per month of use of the automobile.
what will be the automobile taxable benefit to be included in Net Employment Income for the year?
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