During the 2015/16 FBT year, ABC Pty Ltd provided its employee with two fringe benefits: a) The

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Question:

During the 2015/16 FBT year, ABC Pty Ltd provided its employee with two fringe benefits:

a) The company loaned the employee $75,000 at 2.5% pa interest. The loan existed for the full FBT year and the employee used the money to buy shares in Bluescope Steel Ltd.
b) Secondly, the company paid $10,000 towards emergency accommodation when the employee’s house burnt down in the 2016 bush fires.

Required:

Calculate the FBT payable (if any) on these two benefits. You must refer to sections in the relevant Tax Act.

Posted Date: Oct 10, 2021 10:25 PM

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During the 2015/16 FBT year, ABC Pty Ltd provided its employee with two fringe benefits: a) The

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201516 FBT Year Lets assume that ABC Pty Ltd is any firm in Australia a loaned amount 75000 Actual I... View the full answer

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