Mrs. Amy Smith's employer provides her with an automobile for his personal use and pays all operating costs for that vehicle. The vehicle, used by Amy throughout 2020, cost her employer $31,500, including GST of $1,500 (no provincial sales tax was charged on the vehicle purchase). Angie drove the vehicle 45000km during the year, of which 9,000 km were for personal purposes. Her employer paid $8,750 in operating costs for the year. Amy paid nothing to her employer for the use of the vehicle. Which one of the following amounts represents the minimum taxable benefit that Amy must include in her employment income for the use of this vehicle in 2020?

A: $5,921

B: $4,859

C: $5,102

D: $2,268

Answer rating: 100% (QA)

Taxable benefits i Operating cost As per the taxation requirements of 2020 while calculating the ope... View the full answer