Mary Black is employed as a financial controller for a large retail business, named BigStore. During the 2020-21 fringe benefits tax (FBT) year, BigStore provided Mary with a remuneration package of salary and related benefits, plus the mandatory employer superannuation contribution. Mary's package consisted of the following: ? Salary: $195,000 per annum. ? Superannuation: in addition to the superannuation guarantee contribution, BigStore contributed an additional $5,000 to Mary's account in her industry complying superannuation fund. ? Professional membership: BigStore paid Mary's Chartered Accountants annual membership fee of $700. ? Exclusive use of an employer-provided car. BigStore leased a Ford Falcon vehicle from 1 April 2015 at which time its purchase price was $45,000. The annual lease payments are $10,000. During the FBT year, the car travelled 17,000 km of which 3,000 km was work related. The licence, insurance and service costs totalled $1,200. Mary paid for petrol in the amount of $1,270. ? Loan (1): provision of a low-interest loan in the amount of $20,000 at an interest rate of 3.65%. Mary used $5,000 for a holiday, and the remaining funds to purchase shares which paid dividends. The loan was drawn down in full on 1 April 2020. ? Loan (2): provision of another loan to Mary's spouse in the amount of $50,000, on the same terms of Mary's loan (i.e. loan 1). This loan was drawn down on 1 April 2020 and was used by the spouse to pay the deposit for the purchase of an investment property. ? Study expenses for a graduate accounting degree: $15,000 in course fees and $1,200 for textbooks ? Laptop computer costing $2,500: provided to Mary to work from home. ? Bottle of wine worth $200 at Christmas.

Required: (a) Advise BigStore of its FBT liability for the benefits provided to Mary for the year ending 31 March 2021. Show all calculations and cite relevant legislation to support your answer. (b) Advise Mary of the income tax consequences of her remuneration package