The CEO of a company receives a loan of $120,000 from her company. She uses the money
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The CEO of a company receives a loan of $120,000 from her company. She uses the money to purchase a principal residence. If she is charged 4% p.a. interest on the loan, what is the taxable value of the loan fringe benefit? Assume a statutory rate of interest of 7.55% pa.
Related Book For
South Western Federal Taxation 2017 Comprehensive
ISBN: 9781305874169
40th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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