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Exercise 3-8 An employee in Manitoba has use of a company owned automobile for the entire 2024 year. The following information is available: Total
Exercise 3-8 An employee in Manitoba has use of a company owned automobile for the entire 2024 year. The following information is available: • Total cost of the vehicle: ???$29,000 plus 13% GST & RST • Days available to the employee: ??365 days • Total km driven: ????23,000 • Business km driven:???19,500 • Employee reimbursements??$500 of the operating expenses • The employee used the automobile for less than 50% business use in 2024. Required: Calculate the automobile benefit
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