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Michael joined Big Tech Telecommunications Ltd , a mobile phone retailer, as the CEO. On 1 April 2 0 2 2 , the company acquired
Michael joined Big Tech Telecommunications Ltd a mobile phone retailer, as the CEO. On April the company acquired a new motor vehicle costing $ from a GSTregistered car dealer and immediately provided the car to Michael. During the FBT year, the car travelled a total of kilometres, of which kilometres were for business use. The running costs of the car, including fuel and oil, registration, insurance, and minor repairs and maintenance totalled $ for the FBT year. Michael made an employee contribution totalling $ to Big Tech during the FBT year. Using the statutory formula method, what is the amount of FBT payable by Big Tech for the FBT year ending March rounded to the nearest dollar
Michael joined Big Tech Telecommunications Ltd a mobile phone retailer, as the CEO. On April the company acquired a
new motor vehicle costing $ from a GSTregistered car dealer and immediately provided the car to Michael.
During the FBT year, the car travelled a total of kilometres, of which kilometres were for business use. The
running costs of the car, including fuel and oil, registration, insurance, and minor repairs and maintenance totalled $ for the
FBT year.
Michael made an employee contribution totalling $ to Big Tech during the FBT year.
Using the statutory formula method, what is the amount of FBT payable by Big Tech for the FBT year ending March
rounded to the nearest dollar
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