On 1 April 2017, Newcastle Tyres Pty Ltd purchased a new car costing $20,000 including GST. The company had insufficient space to garage the car and requested the manager to garage it at his home. The car was, in fact, garaged at the managers home each night of the year, though the car was only used for private travel on 210 days. Other particulars regarding the car are:

Stamp duty on registration $320

Registration and insurance $900

Petrol and oil for the tear $1,900

Repairs and maintenance $500

Total kilometres travelled in year (as per log book) 38,000 km

Business kilometres travelled 16,000 km

Contribution by employee for petrol and oil $700

(Declaration provided to employer)

A car telephone costing $3,500 was installed on the day of purchase and has been used predominantly (95%) for business purposes. All costs are inclusive of goods and services tax.

Required:

Calculate the taxable value of the car fringe benefit and the FFBT payable for the currentFBT year, using the two different methods. A full input tax credit is available for the car.