Question
Commencing 1 April 2022, Morgan Landscaping Pty Ltd (morgan) provided Larissa (an employee) with the use of a Volkswagen Golf car. The car cost $55,000
Commencing 1 April 2022, Morgan Landscaping Pty Ltd (morgan) provided Larissa (an employee) with the use of a Volkswagen Golf car. The car cost $55,000 (including GST) and was used privately every day during the year. Larissa did not maintain a logbook recording her private use of the car. During the year, Larissa contributed $3,000 towards the car's running costs. Calculate the minimum taxable value for this car benefit provided by Morgan in respect of the 2023 FBT year. Select one: $8,000 $7,000 $11,000 $10,000
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Cornerstones of Financial and Managerial Accounting
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
2nd edition
978-0538473484, 538473487, 978-1111879044
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