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.
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Authors: kieso, weygandt and warfield.
14th Edition
9780470587232, 470587288, 470587237, 978-0470587287
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