Dr Sue, a cardiologist, working with the Ministry of health, is based in Suva. Along with...

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Dr Sue, a cardiologist, working with the Ministry of health, is based in Suva. Along with his $115 000 annual salary and 15% gratuity, he receives $500 per month motor vehicle allowance. He also receives some non-cash benefits: 1. II. III. IV. V. VI. Ministry has provided him with a house. Rent is $2 200 per month. He receives household personal fringe benefits - $750 per month Meal allowance - $20 per day; 5 days in a week He drives a car provided by the Ministry. The car's engine capacity is 1999 CC. Tax details for the car allowances are as below: Engine Capacity Under 1,800cc 1,800cc and <2,000cc 2,000cc and above Value for each Quarter (VEP Amount) $656 $778 $958 Ministry pays $3500 for his kids' education Ministry also pays him $500 per month for his 'personal expenditure fringe benefits'. Required: Calculate the value of the gross fringe benefit, net fringe benefit and FBT payable. (8 marks) Dr Sue, a cardiologist, working with the Ministry of health, is based in Suva. Along with his $115 000 annual salary and 15% gratuity, he receives $500 per month motor vehicle allowance. He also receives some non-cash benefits: 1. II. III. IV. V. VI. Ministry has provided him with a house. Rent is $2 200 per month. He receives household personal fringe benefits - $750 per month Meal allowance - $20 per day; 5 days in a week He drives a car provided by the Ministry. The car's engine capacity is 1999 CC. Tax details for the car allowances are as below: Engine Capacity Under 1,800cc 1,800cc and <2,000cc 2,000cc and above Value for each Quarter (VEP Amount) $656 $778 $958 Ministry pays $3500 for his kids' education Ministry also pays him $500 per month for his 'personal expenditure fringe benefits'. Required: Calculate the value of the gross fringe benefit, net fringe benefit and FBT payable. (8 marks)

Answer rating: 100% (QA)

Calculation of Dr Sues Fringe Benefits and FBT Part I Value of Gross Fringe Benefits HousingAnnual r... View the full answer