Debbie works for Homemaker Ltd and receives the following fringe benefits during the year:

a bread maker, ordered in for Debbie from another company. The bread maker normally sells to customers in the ordinary course of business for $600. It cost Homemaker Ltd $300 and Debbie contributed $400 towards it.

a dishwasher, which is manufactured by Homemaker Ltd themselves. It is usually sold to members of the public for $1,500 and Debbie contributed $1,000 towards it.

Homemaker Ltd serviced Debbies washing machine for free. This service would normally be charged out at a minimum of $100.

Required:

(a) Calculate the taxable value of any fringe benefit Homemaker Ltd may be liable to in respect of the benefits it has allowed Debbie. Is there any way the taxable value of these fringe benefits could be reduced?

(b) Judith is an employee of Moneyco Pty Ltd, a national housing loan specialist. On 1 April 2014, Judith takes out a housing loan with her employer for $200,000 at an interest rate of 3% pa. This was a very good rate as she has shopped around and the rate available from her current bank was 8%. The statutory rate for the 2014-15 FBT year is 5.95%.

Required:

Calculate the FBT payable by Moneyco Pty Ltd in relation to the loan fringe benefit.