Automobile owned by employer 1 Includes insurance of $600, but excludes parking. REQUIRED Compute the standby charge
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Automobile owned by employer
1Includes insurance of $600, but excludes parking.
REQUIRED
Compute the standby charge and operating benefit for the use of the automobile.
Transcribed Image Text:
Original cost of automobile including HST Operating cost for the year paid by employer, including HST Employment-use kilometres Total kilometres driven for the year Number of months available Reimbursement to employer for personal use at 10¢ per kilometre $26,000 $ 3,000¹ 10,000 30,000 12 $ 2,000
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Standby charge we cannot reduce the standby charge since the vehicle i...View the full answer
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Related Book For
Introduction To Federal Income Taxation In Canada 2016-2017
ISBN: 9781554968725
37th Edition
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett
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