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Cameron received the following benefits from his employer for the FBT year A fully maintained vehicle costs $28,000. No logbook was kept. The car is
Cameron received the following benefits from his employer for the FBT year
- A fully maintained vehicle costs $28,000. No logbook was kept. The car is used predominately for work purposes and is garaged at Cameron’s house overnight. Cameron made no employee contribution. Cameron’s employer uses the statutory method to value the car.
- Work-related compulsory seminar held off business premises, during office hours, for a value of $1,200.
- Cameron’s employer paid for Cameron’s personal dental bills of $3,200
- Salary sacrificed $19,000 into a complying superannuation fund
a. Calculate the Reportable Fringe Benefits Amount and Reportable Employer Superannuation Contributions to be included on Cameron’s Payment Summary
b. If Cameron’s total concessional contributions amounted to $28,000, explain the effect that it could have on his personal taxation situation.
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a Total reportable fringe benefit would be 2800032001200 32 400 The reportable employers superannuat...Get Instant Access to Expert-Tailored Solutions
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