Ms. Sarah Wong is provided with a car by her employer. It is leased by the employer for $728 per month, including $78 of HST. The lease
Ms. Sarah Wong is provided with a car by her employer. It is leased by the employer for $728 per month, including $78 of HST. The lease
Chapter6: Deductions And Losses: In General
Section: Chapter Questions
Problem 26CE
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Question
1.
Transcribed Image Text:Ms. Sarah Wong is provided with a
car by her employer. It is leased by
the employer for $728 per month,
including $78 of HST. The lease
payment also includes a payment of
$50 per month to cover insuring the
vehicle. During 2021, Ms. Wong
uses the car for 10 months. During
the other 2 months, the employer
requires that it be returned to their
premises. She drives the car 76,000
kilometers during this period, of
which 23,000 are for personal use.
Calculate Ms. Wong's minimum
taxable benefit for the use of the
automobile.
SHOW ALL STEPS AND WORKINGS
PLEASE.
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