Mahati's employer provided her with an employer-leased vehicle for 12 months. The monthly lease costs were $850 including HST. Of this amount, $200 per month related to insurance for loss damages. Mahati drove the vehicle for a total of 35,000kms, of which 14,000 were personal. Mahati's employer also paid for the operating costs of the vehicle which totaled $5,000 this year. What is the total taxable benefit that Mahati must include in income this year?

Answer rating: 100% (QA)

To calculate the total taxable benefit that Mahati must include in her income this year for the employerleased vehicle we need to consider the lease c... View the full answer