Jennifer is the sole owner and director of Beautiful Properties Pty Ltd ('BPPL'), a boutique real estate agency that specialises in the sale and marketing of premium, high worth residential properties in Sydney's eastern suburbs. BPPL operates from an office in Double Bay, Sydney. Jennifer's 23-year-old daughter, Michelle, works as a receptionist for BPPL whilst also completing a certificate course at TAFE to become a licensed real estate agent. On 1 May 2023, BPPL acquired a new car through a lease arrangement (valued at $30,000) and provided it to Michelle who uses the car mostly to travel to work from TAFE. However, Michelle also sometimes uses the car for non-work purposes. When not in use, the car is usually kept in a garage at Michelle's house. Michelle maintains the necessary records and invoices in relation to the car. Based on logbook records, the total kilometres travelled by the car during the current FBT year were 20,000 of which 16,000 was for work purposes. For the current FBT year ending 30 March 2024, the following expenses were incurred by BPPL in relation to the car:

Stamp duty $320

Registration $800

Insurance $1,000

Repairs Repairs & Maintenance$480

Lease payments $4,600

The petrol expenses of $3,000 paid by Michelle were reimbursed by BPPL.

On 30 November 2023 BPPL paid Michelle's TAFE tuition fees of $8,000. There is no GST on higher education fees. BPPL also reimburses the road tolls Michelle incurs in travelling to work. The total amount of road tolls reimbursed for the current FBT was $3360.

On 30 September 2023 however, BPPL loaned Jennifer $1.5 million at no interest. Jennifer used $1.2 million to purchase an apartment for Michelle to live in. Jennifer used the remaining $300,000 to purchase high dividend yielding shares in various companies listed on the Australian Stock Exchange.

Required: Advise BPPL about its fringe benefits tax liability for the current FBT tax year ending 30 March 2024.

Your answer must show all relevant calculations, including both methods for calculating taxable value of the car fringe benefit,and be clearly supported by references to relevant legislation, case law or tax rulings.