Question: Availability is one factor in calculating the standby charge for the automobile taxable benefit. Which of the following is a true statement? A) availability is

Availability is one factor in calculating the standby charge for the automobile taxable benefit. Which of the following is a true statement?

A) availability is based on the number of months the car is owned by the employer

B) availability is the number of months the company car is available to the employee in the current taxation year

C) the result of the availability calculation is rounded to the next highest whole number if greater than 1

D) availability is the number of 30 day periods the company car is available to the employee in the current taxation year

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

Macarrys Bicycle Company makes and sells high-quality bicycles, primarily to larger North American bicycle retail outlets and to some wholesalers for smaller retail shops. They have several models,...

Q:

Question MC 1 (43 minutes) [Chapters 2 to 8] Determine the single most appropriate response to the following questions. 1)Carla lives in Detroit, Michigan, USA. She commutes daily to Windsor,...

Q:

1 . Penalties can be assessed under worker's compensation legislation for: underestimating assessable earnings late filing of annual statements late remittances all of the above 2 . Fairlee Hardware...

Q:

Personal and corporate tax Question 1 Which one of the following would be considered employment income for Canadian income tax purposes? Question 1 options: 1) A private health services plan premium...

Q:

Peter Weber is an accountant. Peter is 47 years old and is married to Claire who is 45 years old and blind. She has Net Income For Tax Purposes in 2020 of $9,000, all of which is interest on...

Q:

Question 2: Peter Weber is an accountant. Peter is 47 years old and is married to Claire who is 45 years old and blind. She has Net Income For Tax Purposes in 2020 of $7,000, all of which is interest...

Q:

Hi, would you happen to have the solutions to the attached M/C questions? Please show your steps to the final answer if possible. Thank you. Quiz #6 Chapter 3 Employee vs. Self-Employed 1. Veronica...

Q:

PLEASE COMPLETE NO LATER THAN 10/07 @8:00AM Each question(1,2,& 3) must be a minimum of 200 words. Please make answers detailed and knowledgeable based off the attached reading. ARE YOU ABLE TO...

Q:

Please see attachment. All three question need to be answered in narrative format. If you have questions, just let me know. Normal requirement for references are 2 outside our course text....

Q:

1)To be considered reasonable, an allowance paid to an employeefor using his automobile in employment related activities must be based on kilometers of use. TRUE of FALSE 2) Lily Zhao is a commission...

Q:

I'm in serious need of help in my accounting class (acc205) . I'm falling behind and I need help with this weeks assignment. for week three for the may-june month . can someone please help me ....

Q:

A stock has an expected return of 15 percent. The beta of the stock is 1.2 and the risk-free rate is 3 percent. What is the market risk premium? The answer is in percentage, like 7 in 7%.

Q:

Using a holistic approach to generalist social work practice that includes several aspects used to inform social work practice. These include multiple dimensions of human functioning, ecological...

Q:

55. Playing Blackjack. Blackjack, or twentyone as it is frequently called, is a popular gambling game played in casinos. A player is dealt two cards. Face cards (jacks, queens, and kings) and tens...

Q:

Discuss, research, analyze, and apply a team management concept from your studies in the Graduate Leadership program and the application or use with examples. Include in your initial post a...

Q:

Did you offer hard data that is verifiable with sources identified in the text?

Q:

Did you trace the accomplishments, issues, and milestones?

Q:

Did you use the correct logo and placement to be consistent with the brand? [yes or no]