Question: Calculate the fringe benefits tax liability in respect of each benefit provided to Sau Fuk. QUESTION THREE Retrofit Clothing Pty Ltd is registered for

Calculate the fringe benefits tax liability in respect of each benefit provided to Sau Fuk. QUESTION THREE

Calculate the fringe benefits tax liability in respect of each benefit provided to Sau Fuk. QUESTION THREE Retrofit Clothing Pty Ltd is registered for GST and runs a clothing wholesale business in Melbourne. During the year the company received the following receipts and made the following payments. RECEIPTS Sales proceeds Interest income Rental income from commercial property Rental income from residential home PAYMENTS: Interest paid on both loans Repairs on residential property Repairs on commercial property Wages to staff $12,864,947 $1,984 $29,675 $26,846 $96,800 $34,894 $4,984 $168,967 REQUIRED: alculate the GST payable and refundable in respect of the above transactions.

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