Brayden, a single taxpayer aged 29, derived gross wages of $72,340 during the period up to 31 October when he ceased residency. PAYG tax of $17,730 was withheld and he had no other income, deductions or private health insurance. Brayden also had reportable fringe benefits of $3,290.

Required: 

1. Calculate Brayden's net tax payable refundable.
2. Briefly explain what a reportable fringe benefit is.
3. Are reportable fringe benefits income? 
4. Have reportable fringe benefits impacted Brayden's net tax payable and why / why not?

Answer rating: 100% (QA)

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