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Question - Francine Roy works for Gibson Garments in Alberta and is provided with a company-owned automobile. The automobile was in Francine's possession for 365 days. Of the 49,882 kilometres driven, 28,203 kilometres were for business purposes. The purchase price of the vehicle was $31,580.00, excluding the GST calculated at 5%.
Francine requested in writing that Gibson Garments use the optional operating cost method if all the conditions apply. She did not reimburse the company for any of the expenses associated with the automobile. Calculate Francine's annual automobile taxable benefit.
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