Calculate claire annual automobile taxable benefit

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Question - Claire Roy works for Gibson Garments in Northwest Territories and is provided with a company-owned automobile. The automobile was in Claire's possession for 365 days. Of the 52,184 kilometres driven, 27,660 kilometres were for business purposes. The purchase price of the vehicle was $30,920.00, excluding the GST calculated at 5%.

Claire requested in writing that Gibson Garments use the optional operating cost method if all the conditions apply. She did not reimburse the company for any of the expenses associated with the automobile.

Calculate Claire's annual automobile taxable benefit.

Reference no: EM132940560

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