- The following facts relate to an employer-provided automobile.
The original cost of the automobile, including HST $40,000
Replacement value of the car at the time of providing it to employee $30,000
Capital cost allowance claimed by employer $ 3,000
Personal use kilometers are driven by the employee during the year 2,000 km
Total kilometers are driven by the employee during the year 30,000 km
Number of months automobile was used by employee 12
What is the employee's minimum standby charge?
a. $720
b. $960
c. $640
d. $9600
- The following facts relate to an employer-provided automobile.
The original cost of the automobile, including HST $40,000
Replacement value of the car at the time of providing it to employee $30,000
Capital cost allowance claimed by employer $ 3,000
Personal use kilometers are driven by the employee during the year 2,000 km
Total kilometers are driven by the employee during the year 30,000 km
Number of months automobile was used by employee 12
What is the employee's minimum standby charge?
a. $720
b. $960
c. $640
d. $9600
