Question
Estella accepts an offer of employment made by Sharky Lawyers Pty Ltd (Sharky) to be their new marketing manager. On 1 June 2016 Sharky made
Estella accepts an offer of employment made by Sharky Lawyers Pty Ltd (Sharky) to be their new marketing manager.
On 1 June 2016 Sharky made an interest free loan of $901,000 to Estella.Estella used the $901,000 to buy Australian shares.On 1 March 2017 Estella's employer told her she did not have to repay $99,000 of the loan.Sharky is not entitled to claim the input tax credit for GST purposes.
Required: Advise Sharky of the fringe benefits tax payable, if any, (rounded to the nearest dollar) for the FBT year ended 31 March 2017.
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Cost-Benefit Analysis Concepts and Practice
Authors: Anthony E. Boardman, David H. Greenberg, Aidan R. Vining, David L. Weimer
5th edition
1108401295, 9781108415996, 1108415997, 978-1108401296
