XYZ Inc. has just completed its fiscal year ended December 31, 2020. Using GAAP, the accountant has determined that, for that taxation year, the Company has Net Income of $200,000. The accountant provides the following information that was used in the determination of the Net Income for Accounting Purposes:

A Senior VP of the company was reimbursed for her business travel using her own personal automobile. She received $0.70 per kilometre for the 1,000 kilometres that she drove for business purposes. This reimbursement was not included in her income as a taxable benefit. The company deducted the reimbursement as part of Travel Expenses in the calculation of Net Income for Accounting Purpose