Everything Electronics Pty Ltd (Everything Electronics) is an electronics manufacturer. It manufactures a range of household electrical goods such as toasters, microwave ovens, dishwashing machines, refrigerators and dryers. The company is registered for the GST. The company provided the following benefits to one of its employees, Roy (the General Manager) during the FBT year ended 31 March 2021: 

1. On 11 October 2020, Everything Electronics purchased a new motor vehicle costing $82,000 from a GST-registered car dealer and immediately provided it to Roy. The $82,000 included a stamp duty component of $2,000. Roy did not maintain a logbook. The car was taken home by Roy for each night of the 172 nights from 11 October 2020 to 31 March 2021. Roy made an after-tax cash contribution of $2,500 towards the running costs of the vehicle for the period 11 October 2020 to 31 March 2021. 

2. On 5 July 2020, the company lent Roy $150,000 at an interest rate of 2.00%. Roy used $20,000 of this amount to pay off his personal credit card and he invested the remaining $130,000 to buy shares in listed companies on the ASX, all of whom pay dividends. Roy did not make any loan repayments in respect of the period 5 July 2020 to 31 March 2021. There are 270 days from 5 July 2020 to 31 March 2021. 

3. As a Christmas present, Everything Electronics gave Roy a refrigerator. The refrigerators which are manufactured by Everything Electronics are sold to wholesale distributors for $1,200 each. This was the lowest selling price during the 2021 FBT year. 

4. During the 2021 FBT year, the company treated Roy to a lunch at a seafood restaurant to thank him for this services during the year. The cost of the lunch which was paid for by Everything Electronics came to $240. Please quote relevant sections of the FBTAA (1986) in your answer to this part of the question. Assume that all figures mentioned above were GST-inclusive. 

REQUIRED: For each of the abovementioned benefits, calculate the fringe benefits tax payable for the year ended 31 March 2021. Please use 365 days in your FBT calculations. Please round all calculations to the nearest whole dollar. 

1. Calculate the FBT payable on the provision of the motor vehicle. (4 marks) 

2. Calculate the FBT payable, if any, on the provision of the loan. (3 marks) 

3. Calculate the FBT payable, if any, on the provision of the refrigerator. (3 marks) 

4. Calculate the FBT payable, if any, for the seafood lunch treat. Please quote relevant sections of the FBTAA (1986) in your answer to this part of the question. (2 marks)

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