The Little Company (TLC),located in British Columbia,provided a company car to its key employee,Ben,in 2018.The car was purchased for $38,000 + 5% GST at the beginning of the year,and was available to Ben for all twelve months of 2018.Ben drove the car 20,000 kms in 2018,9,000 of which were for employment purposes.TLC paid $5,200 for the operating costs of the car during the year.Ben did not receive an automobile allowance from TLC and he did not reimburse his employer for any of the operating costs.
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The Answer of The Little Company (TLC),located in British Columbia,provided a company car to its key employee,Ben,in 2018.The car was purchased for $38,000 + 5% GST at the beginning of the year,and was available to Ben for all twelve months of 2018.Ben drove the car 20,000 kms in 2018,9,000 of which were for employment purposes.TLC paid $5,200 for the operating costs of the car during the year.Ben did not receive an automobile allowance from TLC and he did not reimburse his employer for any of the operating costs.
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The Little Company (TLC),located in British Columbia,provided a Company Car