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Compute the minimum taxable benefit

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Question - An employee is provided with a car that cost their employer $165,000. During the current year the employee drove the car 56,000 km of which 18,000 was considered to be for employment purposes.

All operating costs were paid by the employer. The car was available for the employee for 10 months of the year.

Compute the minimum taxable benefit that will accrue to the employee. Ignore any sales tax implications.

Reference no: EM133174727

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