Lana, a company messenger, received the following fringe benefits during the taxable period. the fringe benefit tas
Question:
Lana, a company messenger, received the following fringe benefits during the taxable period. the fringe benefit tas of Lana would be:
Motor vehicle purchased to deliver the messages 51,000
Actual medical help for the hernia operation 13,600
Food allowance per month 1,700
Uniform allowance 680
Grocery items 3,000
Question 2
ABC Company purchased a car for a cash price of 1,000,000. If the ABC purchased the car on installment, the monthly payment would 20,000 for 5 years. If the company decided to maintain the car for the personal use of its president as needed. How much is the fringe benefit tax?
Question 3
ABC Company purchased a car for a cash price of 1,000,000. If the ABC purchased the car on installment, the monthly payment would 20,000 for 5 years. If the company decided to transfer the ownership of the car in the name of its president, how much is the fringe benefit tax?
Question 4
Lana, an employee of ABC company, borrowed money from the company amounting to 88,400. The company's policy is to change 1% per month to its employees instead of its regular interest rate of 9.5% per annum. How much is the fringe benefit tax?
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill