Txation

Angelo Marcaccio has been employed for over 10 years by a large Canadian public corporation. He works in their Victoria office.

The following items pertain to Angelo's employment information for the 2021 taxation year. For each "question", provide the effect on Angelo's net employment income.

• An inclusion in employment income should be entered in the box as a positive number.
• A deduction from employment income should be entered in the box as a negative number.
• If the item would have no effect on the calculation of employment income, enter the number 0 (zero) in the box.

The company leased a car for Angelo during 2021 at a monthly cost of $490, including all taxes. They also paid $3,710 for the operating costs of the car during the year. Angelo used the car for 9 months during the year and during the months of non-use, it was returned to company's premises. During the year, he drove the car a total of 22,000 kilometers of which 8,000 kilometers were for employment-related travel and the remainder was for personal use. Angelo reimbursed his employer $160 per month for the use of the car.