Employer purchased and provided a car to employ. The car off the cost of car is dollar
Question:
Employer purchased and provided a car to employ. The car off the cost of car is dollar 20,000 including adjusted. The car is driven for a total of 26,000 km during 2020 and it's operating cost for the year are $4000. The car was used by the employer for the whole year. The employer drives a car for personal purposes for the total of 9000 km the minimum accessible benefit for the employees. Assume the car is leased. It is used by the employer for 11 months of the year. In the other month he was required to return the car to his employers premises. He drives it for personal purposes for a total of 7500km and reimburses the employer $1100 bracket hundred per month bracket clothes for the use of the car.the minimum taxable benefit :
$2250
1150
2455
1500
Thermodynamics An Engineering Approach
ISBN: 978-0073398174
8th edition
Authors: Yunus A. Cengel, Michael A. Boles