The cost of the car is $20,000 including HST. If the car is leased, the monthly lease payment is $500 including HST. The car is driven for a total of 26,000 km during 2012 and its operating costs for the year are $4,000.

Assume the car is purchased. It was used by an employee for the whole year. He drives it for personal purposes for a total of 9,000 km. The minimum taxable benefit would be?

*wouldn't the minimum taxable benefit be the standby charge plus the operating expense cost?*