Question
Mia is provided with a car from her employer. It was purchased on the 1st of April 2018 for $60,000. During the FBT year, 31
Mia is provided with a car from her employer. It was purchased on the 1st of April 2018 for $60,000. During the FBT year, 31 March 2019, Mia did 20,000 km in her car of which 8,000 km were for business. The running costs paid for by her employer were $21,250. Registration and insurance on the car amounted to $1,200, which Mia paid for herself. Calculate the taxable value for fringe benefits tax purposes using both available methods. (Ignore deemed depreciation and deemed interest.)
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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