Greg is employed by NAB as a branch manager in Melbourne. As part of an employee incentive package, NAB pays Greg’s gym membership fee of $350 per year. Greg also receives a corporate mobile phone valued at $1,000 which he mainly uses for work. NAB is a financial institution primarily making input taxed supplies and is not entitled to input tax credits on acquisitions. The amount of FBT payable by NAB on the above benefits above is: 

Group of answer choices 

$1,197

$1,291 

$310 

Nil 

$342