Why the minimum standby charge arising from the employer

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In the current? year, Mr. Nguyen is provided with a vehicle owned by his? employer, Translux Inc. The vehicle was originally purchased by Translux Inc. five years ago for? $29,500 (including? HST).

Nguyen provides you with the following? information:

Days the vehicle was available for use by Mr.? Nguyen: 275
Months the vehicle was owned by Translux? Inc.: 12
Fair market value of the vehicle in the current? year: $12,500
Total kilometres driven in the current? year: 32,000
Personal kilometres driven in the current? year: 12,000

Question 1: Why the minimum standby charge arising from the employer owned vehicle for Mr. Nguyen in the current year? is $4247?

Reference no: EM132647631

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