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On January 1 of the current year, E received a loan of $200,000 from her employer. The principle is repayable after 5 years. The loan
On January 1 of the current year, E received a loan of $200,000 from her employer. The principle is repayable after 5 years. The loan bears interest at 1% per annum, which is paid monthly. The prescribed interest rate was 4% for the first quarter of the year and 5% for the remainder of the year. E used the loan to assist with the purchase of a home. What amount is included in E's employment income for tax purposes in the current year? employment income for tax purposes in the current year D is provided with the use of her employer's car throughout the current year. The car was purchased for $40,000 (including tax). The employer also pays for the operating expenses that are $2,200 annually. D drove the car 10,000 km for employment purposes and 9,000 km for personal use. What is the minimum amount to be included in D's employment income for tax purposes in the current year, 2020
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