XYZ Inc. provides Samantha Davis with a company car. The car is leased for $800/month (including 13% HST and excluding insurance) and was made available to her for ten months. ABC pays all of the operating costs which amounted to $3,500 in 2023. Samantha drove 13,000 kilometres in 2023 of which 8,000 were for business. What is the minimum taxable benefit that Samantha must include on her 2023 personal tax return?
XYZ Inc. provides Samantha Davis with a company car. The car is leased for $800/month (including 13% HST and excluding insurance) and was made available to her for ten months. ABC pays all of the operating costs which amounted to $3,500 in 2023. Samantha drove 13,000 kilometres in 2023 of which 8,000 were for business. What is the minimum taxable benefit that Samantha must include on her 2023 personal tax return?
Chapter5: Introduction To Business Expenses
Section: Chapter Questions
Problem 51P
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Question
![XYZ Inc. provides Samantha Davis with a company car. The car is leased for $800/month (including 13%
HST and excluding insurance) and was made available to her for ten months. ABC pays all of the operating
costs which amounted to $3,500 in 2023. Samantha drove 13,000 kilometres in 2023 of which 8,000 were
for business. What is the minimum taxable benefit that Samantha must include on her 2023 personal tax
return?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F57acaf47-ee4c-416a-b283-beaa01da0580%2F22b88595-10e8-402e-8bef-6df1b79a1b89%2Frrezbu9_processed.png&w=3840&q=75)
Transcribed Image Text:XYZ Inc. provides Samantha Davis with a company car. The car is leased for $800/month (including 13%
HST and excluding insurance) and was made available to her for ten months. ABC pays all of the operating
costs which amounted to $3,500 in 2023. Samantha drove 13,000 kilometres in 2023 of which 8,000 were
for business. What is the minimum taxable benefit that Samantha must include on her 2023 personal tax
return?
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