Automobile leased by employer 1 Excludes parking. REQUIRED Compute the standby charge and operating benefit for the
Question:
Automobile leased by employer
1Excludes parking.
REQUIRED
Compute the standby charge and operating benefit for the use of the automobile.
Transcribed Image Text:
Lease cost including $500 of insurance and 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 5¢ per kilometre $5,000 $3,000¹ 4,000 16,000 12 $600
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Standby charge we cannot reduce the standby charge since the vehicle ...View the full answer
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Haninder Sandhu
CRACKED IIT JEE ADVANCED (2015)
GRADUATED FROM IIT ROORKEE IN CIVIL ENGINEERING (2015-2019)
SECURED AIR (ALL INDIA RANK) -136 IN IES (INDIAN ENGINEERING SERVICE) 2019
SECURED AIR -627 IN GATE (GRADUATE APTITUDE TEST ENGINEERING) 2019
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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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