Cliff was employed as the finance manager of L Ltd. On 1 May 2020, Cliff married Mandy, L Ltd paid $18,000 to a travel company for the couples honeymoon package tour to Japan. During the year ended 31 March 2021, Cliff was paid an annual salary of $700,000 and was provided with a flat, rent-free. Cliff is a member of ACCA for which he pays membership fees of $2,000.

What is the taxable benefit from the accommodation provided by L Ltd for the year of assessment 2020/21?

Select one:

a.

$70,000

b.

$71,600

c.

$71,800

d.

$69,800