All-Chem Pharmaceuticals is a pharmaceutical company and have provided the following fringe benefits to its employees during the year ended 31^st March 2019.

Tip: If you cannot find the FBT rate and gross up factors for the 2018/19 FBT year in your textbook, visit www.ato.gov.au and search for 'FBT rate'.

1. Classify the benefits as Type 1 or Type 2, (Show your answer in the table below)

2. Calculate All-Chem's Fringe Benefits Tax (FBT) liability for the 2018/19 FBT year

BENEFITS

Amount

TYPE (1 OR 2)

Drinks and entertainment (including GST)

$24 945 - Type 1

Expense reimbursement (including GST)

$3,856 - Type 1

Employee Rent

$20,000 - Type 2

I need assistance for the following: Calculate All-Chem's Fringe Benefits Tax (FBT) liability for the 2018/19 FBT year