Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Ms. Robin Nestor is provided with an automobile that is owned by her employer. The employer purchased the car in 2018 for $54,000, plus $7,020
Ms. Robin Nestor is provided with an automobile that is owned by her employer. The employer purchased the car in 2018 for $54,000, plus $7,020 in HST. During 2019, she drives a car a total of 72,000 kilometers, of which 67,000 kilometers were employment-related. The automobile was used by Ms. Nestor for 268 days during 2019. When she was not using the automobile, her employer required that it be returned to their premises.
Calculate Ms. Nestor’s minimum taxable benefit for the use of the automobile.
Step by Step Solution
★★★★★
3.41 Rating (160 Votes )
There are 3 Steps involved in it
Step: 1
7200067000 5000 personal use Standby Charge 2cost of the caravailability factor ...
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started