Sam accepts an offer of employment made by QP Pty Ltd (QP) to be their new marketing
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Question:
Sam accepts an offer of employment made by QP Pty Ltd (QP) to be their new marketing manager.
On 1 April 2019 QP made an interest free loan of $78913to Sam. He used the loan to pay off the mortgage on his mother's home.
QP is not entitled to claim an input tax credit for GST purposes.
Required:
Advise QP of the fringe benefits tax payable, if any, (rounded to the nearest dollar) for the FBT year ended 31 March 2020.
Related Book For
Canadian Income Taxation Planning And Decision Making
ISBN: 9781259094330
17th Edition 2014-2015 Version
Authors: Joan Kitunen, William Buckwold
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