Sau Fuk is employed by Vijay Singh Pty Ltd as an electrical engineer. During the year...
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Sau Fuk is employed by Vijay Singh Pty Ltd as an electrical engineer. During the year he was provided with the following benefits from his employer. 1. Motor vehicle fringe benefit: The market value of the car was $65,000. Sau Fuk received the benefit on 1 April 2022. He was required to contribute $80 per week towards the private running costs of the car. 2. Professional subscriptions to the Engineers Association of $840. 3. Interest free loan of $10,000 to repay his personal credit card debt. REQUIRED: Calculate the fringe benefits tax liability in respect of each benefit provided to Sau Fuk. Sau Fuk is employed by Vijay Singh Pty Ltd as an electrical engineer. During the year he was provided with the following benefits from his employer. 1. Motor vehicle fringe benefit: The market value of the car was $65,000. Sau Fuk received the benefit on 1 April 2022. He was required to contribute $80 per week towards the private running costs of the car. 2. Professional subscriptions to the Engineers Association of $840. 3. Interest free loan of $10,000 to repay his personal credit card debt. REQUIRED: Calculate the fringe benefits tax liability in respect of each benefit provided to Sau Fuk.
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Fringe Benefits Tax Liability for Sau Fuk Heres a breakdown of the fringe benefits tax FBT liability ... View the full answer
Related Book For
Canadian Income Taxation Planning And Decision Making
ISBN: 9781259094330
17th Edition 2014-2015 Version
Authors: Joan Kitunen, William Buckwold
Posted Date:
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