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Calculate the current cost of car after all cca deductions

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Problem 1: When you calculate benefits (standby charge and operating expense) for the employer provided vehicle, do you use the initial cost of the car (for example, the car was purchased 3 years ago for $42,000), or do you calculate the current cost of the car after all CCA deductions, and then use this number?

  • For example, the employer provides a car to its employee. It is known that the car was purchased 3 years ago for $42000, and the company has deducted maximum CCA. Which amount you would use as the cost of the car to calculate operating expense benefit?

Reference no: EM132791547

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