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prob014 - $33,900 Maintenance and repairs 1,200 Insurance...

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Problem 14 (Past exam question: 9 minutes) (Text: Ch. 3) On March 1 of this year Fred Stone was promoted and his employer provided him with a company car. Details of the automobile and its related operating costs are as follows. All amounts include PST at 8% and GST. Cost of the car to the company
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Unformatted text preview: $33,900 Maintenance and repairs 1,200 Insurance 1,100 Gas 1,400 Total kilometres driven by Fred 30,000 Personal kilometres driven by Fred 10,000 Business kilometres driven by Fred 20,000 Fred's employer is a GST registrant. Required : Determine the tax consequences to Fred for this year....
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