Calculate seans annual automobile taxable benefit

Reference no: EM133359978

Question: Sean works in Ontario and is provided with a company-owned automobile that was available to him for 224 days. The purchase price of the automobile was $24,900 plus 13% HST. The business kilometers driven were 12000 and the total kilometers driven were 20,000. The employee reimbursement is $0 and Sean has asked that the company use the optional method of calculating his operating cost benefit. Calculate Sean's annual automobile taxable benefit.

Reference no: EM133359978

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