Question

Michelle chen works for a nunavut company and is provided company owned automobile. the automobile was in Michelle's possession for 365 day.of the 49306 km driven 26944 km were for business purpose the purchase price of the vehicle was 25680.00 excluding gst calculated at 5% Michelle requested in writing the company ise the optional operating cost method if all conditions apply she did not reimburse the company for any of the expenses associated with the automobile
calculate Michelle's annual automobile taxable benefit

Answer 1

The benefit is 28 Cents per KM of personal use. (Assuming the use was only between employees home and business premise.)

Total Personal KMs = 49,306 - 26,944 = 22,362

Therefore annual automobile taxable benfit = 22362 x 28 cents = 626,136 cents = 6,261 Dollars and 36 Cents