Mia is provided with a car from her employer. It was purchased on the 1st of April
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Mia is provided with a car from her employer. It was purchased on the 1st of April 2018 for $60,000. During the FBT year, 31 March 2019, Mia did 20,000 km in her car of which 8,000 km were for business. The running costs paid for by her employer were $21,250. Registration and insurance on the car amounted to $1,200, which Mia paid for herself. Calculate the taxable value for fringe benefits tax purposes using both available methods. (Ignore deemed depreciation and deemed interest.)
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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