Question
In the currentyear, Mr. Nguyen is provided with a vehicle owned by hisemployer, Translux Inc. The vehicle was originally purchased by Translux Inc. five years
In the currentyear, Mr. Nguyen is provided with a vehicle owned by hisemployer, Translux Inc. The vehicle was originally purchased by Translux Inc. five years ago for$29,500 (includingHST). Nguyen provides you with the followinginformation:
Days the vehicle was available for use by Mr.Nguyen: 275
Months the vehicle was owned by TransluxInc.: 12
Fair market value of the vehicle in the currentyear: $12,500
Total kilometres driven in the currentyear: 32,000
Personal kilometres driven in the currentyear: 12,000
The minimum standby charge arising from the employer owned vehicle for Mr. Nguyen in the current yearis:
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Operational Risk Management
Authors: Mark D Abkowitz
1st Edition
0470256982, 9780470256985
