Gordon accepts an offer of employment made by QP Pty Ltd to be their new associate

director.

On $1$ April $2019,$ QP Pty Ltd made Gordon an interest free loan of $$500,000$ to last for $3$

years.

Gordon used the loan money from his employer to pay out a previous loan on his home

from XYZ Bank that was costing him $7\%$ per annum.

QP Pty Ltd is not entitled to claim any input tax credit for GST purposes.

Required:

Advise QP Pty Ltd of the Fringe Benefits Tax payable, if any, $($rounded to the nearest

dollar$)$ for the FBT year ended $31$ March $2020.$