Barry is a manager of a public listed company in Sydney and has an annual salary...
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Barry is a manager of a public listed company in Sydney and has an annual salary of $200,000. In addition, the employer has provided him with the following fringe benefits from 1 April 2021 to 31 March 2022: • a car of $40,000 for his private use. a private high school tuition fee of $30,000 for his daughter; and a low interest rate loan of $50,000 at an interest rate of 1% per annum. (a) Discuss the fringe benefits tax consequences arising from the above information. (5 marks) (b) Advise Barry on the taxable value of fringe benefits for the year ended 31 March 2022. (5 marks) Barry is a manager of a public listed company in Sydney and has an annual salary of $200,000. In addition, the employer has provided him with the following fringe benefits from 1 April 2021 to 31 March 2022: • a car of $40,000 for his private use. a private high school tuition fee of $30,000 for his daughter; and a low interest rate loan of $50,000 at an interest rate of 1% per annum. (a) Discuss the fringe benefits tax consequences arising from the above information. (5 marks) (b) Advise Barry on the taxable value of fringe benefits for the year ended 31 March 2022. (5 marks)
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Fringe Benefits Provided to Barry Barry has received the following fringe benefits from his employer ... View the full answer
Related Book For
South Western Federal Taxation 2015
ISBN: 9781305310810
38th Edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
Posted Date:
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