Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 14, 2024

1. On 1 April 2018 (2019 FBT year), Sam received an interest-free loan of $92418.22 from her employer, BBB Pty Ltd. Sam used $50,000 as

1. On 1 April 2018 (2019 FBT year), Sam received an interest-free loan of $92418.22 from her employer, BBB Pty Ltd.

Sam used $50,000 as a deposit for an investment property which she plans to rent out, and the remainder was used to renovate her main residence.

Required: Calculate how much FBT the company is required to pay on Sam's loan fringe benefit.

Can you please answer it in 20 minutes please?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Cost Accounting

Authors: William Lanen, Shannon Anderson, Michael Maher

5th edition

978-1259565403

Students also viewed these Accounting questions

Question

Check your work to be sure the answer indicated is the one you intended.

Answered: 1 week ago

Question

★★★★★

Forty-four percent of consumers with credit cards carry balances from month to month (bankrate.com, February 20, 2007). Four consumers with credit cards are randomly selected. a. What is the...

Answered: 1 week ago

Question

★★★★★

It is a digital innovation comprised of web-based applications that will serve as an easy-to-use platform that will allow users to find up-todate information on their favorite tourist attractions in...

Answered: 1 week ago

Question

★★★★★

7. Find the PV of an annual bond if you have 35 years, an YTM of 10% and a coupon rate of 13% 8. Use the same figures in #7, but now find PV if the coupon rate drops to 8%. 9. Calculate your quoted...

Answered: 1 week ago

Question

★★★★★

Shares in the Canadian maker of BlackBerry smart phones peaked in August 2007, at two hundred and thirty six dollars. In retrospect, the company was facing an inflection point and was completely...

Answered: 1 week ago

Question

★★★★★

5. (18 points) Solve the following integrals: (a) (4 points) | [+1 + (1.43) 50 + (r)] +=(1.43) - 50+ sec(x) dr. 2 (b) (4 points) (23 2w-cos(w)+ 3 w2 + 1 ) dw. (c) (5 points) [9t(1 + 1)- dt. (d) (5...

Answered: 1 week ago

Question

★★★★★

a) Give an example of a discrete random variable and report its domain. b) Give an example of a continuous random variable and report its domain. c) How many X values can your random variable example...

Answered: 1 week ago

Question

★★★★★

? Learn By Doing Adult male height (X) follows (approximately) a normal distribution with a mean of 69 inches and a standard deviation of 2.8 inches. a. What proportion of males are less than 65...

Answered: 1 week ago

Question

★★★★★

Under the Age Discrimination in Employment Act, how long must employers maintain specific information ( name , address, date of birth, occupation, rate of pay ) for each employee and applicant?

Answered: 1 week ago

Previous Question Next Question