Compute the standby charges and operating benefit for the use of the automobile. AUTOMOBILE LEASED BY EMPLOYER:
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AUTOMOBILE LEASED BY EMPLOYER: yearly lease cost including $650 of insurance and HST $6,000, Operating cost for the year paid by employer, including HST $3,500 , Employment use KMS. 12,000 , Total KMS. driven for the year 20,000, Number of months available 11 months, reimbursement to employer for personal use 5 cents per KMS. Prescribe rate 29 cents.
Related Book For
Introduction To Federal Income Taxation In Canada
ISBN: 9781554965021
33rd Edition
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett
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