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The Questions Below Are Based on the Following Information

Question 58

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The questions below are based on the following information:
The cost of the car is $20,000 including HST. If the car is leased, the monthly lease payment is $500 including HST. The car is driven for a total of 26,000 km during 2020 and its operating costs for the year are $4,000.
-Assume the car is purchased. It was used by an employee for the whole year. He drives it for personal purposes for a total of 9,000 km. The minimum taxable benefit is: The questions below are based on the following information: The cost of the car is $20,000 including HST. If the car is leased, the monthly lease payment is $500 including HST. The car is driven for a total of 26,000 km during 2020 and its operating costs for the year are $4,000. -Assume the car is purchased. It was used by an employee for the whole year. He drives it for personal purposes for a total of 9,000 km. The minimum taxable benefit is:

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