3 Question 3 (5 points) Hard Yakka Lid contributed $34,000 to a complying superannuateon fund for the year ended 30 June CY on behalf of one of its employees, Gary, aged 30 Gary derived gross wages of $120,300 for the year of income. He had no other assessable income and $3000 of work-related deductions. REQUIRED: Calculate Gary's tax liability as a result of the excess contribution and indicate how Gary can pay this tax liability (Question 3 - 5 marks] Paragraph B U A Lato (Recom... 19px ... V2 Question 2 (5 points) Red Trucks Pty Lid is a GST registered property developer. It purchased a parcel of land back in 1997 for $150,000. The land was sold in January CY for $2,360,000 Red Truck Pty Ltd obtained a professional valuation of the land on the day that GST was introduced into Australia. The valuation valued the land at $680,000. REQUIRED: Calculate the GST applicable to the sale of the land using both the consideration and valuation method. [Question 2 - 5 marks] Paragraph B U V A EV Lato (Recom... 19px...Question 1 (5 points) ABC Limited has provided fringe benefits during the current FBT year. The taxable value of Type 1 benefits amounted to $43,260. The taxable value of Type 2 benefits amounted to $31 715. The company has also paid the following instalments during the year: Quarter June 20CY $15.530 September 20CY $15.350 December 20CY $14.850 REQUIRED: Calculate FBT payable by ABC for the current FBT year. Question 1 - 5 marks/