Jasper uses a work car, a BMW, which cost $55,000 including GST of $5,000. He used the car throughout the current FBT year and travelled 14,000 km. The paid $20 per week for petrol for 48 weeks. The employer is registered for GST and claims input tax credits on the car. Use statutory method.

He also receives a $80,000 low interest loan at 3% from his employer, Big Banker for the FBT year ended 31 March 2021 (the deemed interest rate is 4.80%). Half of the loan was used for an investment property, and other half for private holidays for Jasper;s family.

Calculate taxable value, taxable amount, and FBT liability.