Question
On 1 April 2018 (2019 FBT year), Sam received an interest-free loan of $92418.22 from her employer, BBB Pty Ltd.Sam used $50,000 as a deposit
On 1 April 2018 (2019 FBT year), Sam received an interest-free loan of $92418.22 from her employer, BBB Pty Ltd.Sam used $50,000 as a deposit for an investment property which she plans to rent out, and the remainder was used to renovate her main residence.
Required: Calculate how much FBT the company is required to pay on Sam's loan fringe benefit.
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Canadian Income Taxation Planning And Decision Making
Authors: Joan Kitunen, William Buckwold
17th Edition 2014-2015 Version
1259094332, 978-1259094330
