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Simone Leclerc works for Fashion Services in Nunavut and is provided with a company-leased automobile. The automobile was in Simone's possession for 365 days.
Simone Leclerc works for Fashion Services in Nunavut and is provided with a company-leased automobile. The automobile was in Simone's possession for 365 days. Of the 32,294 kilometres driven, 15,079 kilometres were for business purposes. The monthly lease cost of the vehicle was $519.80, excluding the GST calculated at 5%. Simone requested in writing that Fashion Services use the optional operating cost method if all the conditions apply. She did not reimburse the company for any of the expenses associated with the automobile. Calculate Simone's annual automobile taxable benefit. Your answer:
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