Daniel is employed by HK Co as the companys tax manager. On 1 April 2019, Daniel was granted 5,000 shares by HK Co subject to a vesting period, which ended on 30 September 2020. The market values of the shares on 1 April 2019 and 30 September 2020 were $75,000 and $100,000 respectively. During the year ended 31 March 2021, Daniel was paid an annual salary of $900,000 and was provided with the use of a flat. Philip paid allowance self-education expenses of $60,000.

What is the amount of Daniels taxable housing benefit for the year of assessment 2020/21?

Select one:

a.

$86,500

b.

$100,000

c.

$94,000

d.

$97,500