Neil Anderson is employed as the CEO of ABC Ltd. He joined the firm on 1 April 2021. He receives a base salary of $120 000 plus the following benefits.

(a) A new Mitsubishi Lancer that was purchased by ABC Ltd on 1 April 2021 from a GST-registered car dealership and immediately provided to Neil. The base value of the car is $52000 (GST-inclusive). Neil advises you that he did not maintain a logbook during the 2022 FBT year.

(b) As part of his salary package, on 1 April 2021, Neil receives a low interest housing loan of $200000 at a rate of 1.00 per cent. Neil used this money to buy a house which he uses as his main residence.

(c) The firm paid Neil an entertainment allowance of $5000 to help cover the cost entertainment associated with wining and dining some of their largest clients.

(d) Neil also has his golf membership fees of $3600 (GST-inclusive) paid for by ABC Ltd. This was paid on 10 June 2021.

(e) On 31 December 2021, due to the company recording a record profit, Neil receive a cash bonus of $10000. The bonus was paid to Neil on 14 January 2022.

Required

(a) Calculate the taxable value of each of the benefits.

(b) Calculate the amount of fringe benefits tax payable by ABC Ltd in respect of the FBT year ended 31 March 2022.