Frank is provided with a loan from his employer. Use the following details to determine the amount of FBT the employer would pay (if any) for providing than loan for the 2023 FBT year. Amount lent $20,000 The amount was lent at the start of the FBT year. No repayments were made during the year. Interest rate 3% Frank needed the loan to buy his daughter a car

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To determine the amount of Fringe Benefits Tax FBT the employer would pay for providing the loan to ... View the full answer