Jane, an employee of a manufacturing business received a loan of $10,000 with an interest rate at 2.1% p.a for the full FBT year ended 31 March 2022. Assume that Jane did not use the loan for generating any assessable income. 

Calculate and state in the space provided the FBT liability to Jane’s employer. Please state the figure in dollars and cents, but without the dollar sign.

Answer rating: 100% (QA)

To calculate the FBT liability for the loan provided to Jane we need to use the benchmark interest ... View the full answer