On 1 April 2016, Tom Jackson received a new Mazda 6 from his employer Braken Ltd, a it cost $30,000. The lease and other computer retailers, as part of his salary package. ' FBT year ended 31 March 2017, its traveled running costs are. 16000 km, of which half were for business purposes. Tom was expected to contribute $150 per month towards the running costs of the car.

REQUIRED: Calculate the FBT payable by Braken Ltd, using the statutory formula method.

Answer rating: 100% (QA)

To calculate the Fringe Benefits Tax FBT payable by Braken Ltd using the statutory formula method we ... View the full answer