On 1 April 2019, Mia accepts an offer of employment from Priceline Pty Ltd. Her salary package

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On 1 April 2019, Mia accepts an offer of employment from Priceline Pty Ltd. Her salary package includes a company car worth $55,000

Throughout the FBT year Mia paid $3,500 for petrol. Mia did not keep a logbook.

Priceline is entitled to claim input taxed credits for GST purposes.

Required:

Advise Priceline Pty Ltd as to the relevant section of the FBTAA to apply...
then show the relevant formula and...
then calculate the fringe benefits tax payable (rounded to the nearest dollar) for the 2020 FBT year.

Related Book For answer-question

Intermediate Accounting IFRS

ISBN: 978-1119372936

3rd edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Posted Date: Feb 01, 2021 10:45 PM

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On 1 April 2019, Mia accepts an offer of employment from Priceline Pty Ltd. Her salary package

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Intermediate Accounting IFRS

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