Subject: Taxable Benefits $-$ Employer Leased Automobile

Mr$.$ Michael Forthwith is provided with a car that is leased by his employer. The monthly

lease payments for $2020$ are $$525,$ plus $$68$ HST$.$ During $2020,$ he drives the automobile

a total of $40,000$ kilometres, of which $37,000$ kilometres are employment related. The

automobile is used by him for $325$ days during the year. His employer paid a total of

$$11,250$ in operating costs. When he is not using the automobile, company policy

requires that it be returned to their premises. Calculate Mr$.$ Forthwith$$s minimum $2020$

taxable benefit for the use of the automobile.