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What is the minimum amount you will need to report

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Question - Your employer provided you with a company car to drive from March 1st to December 31st of the current year. The car cost the company $22,000, plus GST (5%) and PST (6%). The car was driven a total of 15,000 kilometres during the year. You kept a detailed log and at the end of the year,  11,000 kilometres were for business purposes.

What is the minimum amount you will need to report in employment taxable benefits as a result of the above information? (Round your answer to the nearest dollar, and apply tax rules for 2020.)

Reference no: EM132836678

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