A taxpayer's employer provides a car to the employee for business trips and personal travel. The taxpayer

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A taxpayer's employer provides a car to the employee for business trips and personal travel.

The taxpayer keeps a log book and travels 3,000 km for business use and 2,000 km for private use over the 3 months test period.

During the year the taxpayer traveled a total of 20,000 kms.

The operating costs reflected on the corporate credit card amounted to $15,000

The depreciation cost was $5,000.

What is the maximum deduction the taxpayer can claim?

Related Book For answer-question

Income Tax Fundamentals 2015

ISBN: 9781305177772

33rd Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill

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Posted Date: Feb 26, 2024 05:48 AM

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A taxpayer's employer provides a car to the employee for business trips and personal travel. The taxpayer

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Maximum Deduction for Taxpayer Using EmployerProvided Car 1 Determine the percentage of business use ... View the full answer

Income Tax Fundamentals 2015

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