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Ashok is an employee at a large accounting company (Aussie Accounting Ptv Ltd). He has negotiated the following benefit with his employer: - Provision of

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Ashok is an employee at a large accounting company (Aussie Accounting Ptv Ltd). He has negotiated the following benefit with his employer: - Provision of a car for work and personal use. Ashok was provided with the car from 1 April 2021 to 31 March 2022. The leased car value was $22,000 on 1 April 2021, and the car had only been leased for a year at that time. Ashok is required to pay for any petrol costs, which he has determined to be $1,300 for the period 1 April 2021 to 31 March 2022. ( 5 marks) - Provision of the latest model smartphone on 1 April each year as Askhok needs a good phone to do his job. Ashok estimates that he uses the phone 70% of his time for work purposes. The phone was purchased new on 1 April 2021 for $1,100 (including GST). ( 2 marks) - Advise Ashok's employer on the FBT consequences (including calculation of any FBT liability) arising from the above information. You may assume that any benefits are Type 1 fringe benefits and use the statutory formula to calculate the car benefit. ( 3 marks)

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