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On 1 April 2019, Penny was employed as an accountant at PayPl Ltd. Her salary package includes reimbursement of her home telephone account. During
On 1 April 2019, Penny was employed as an accountant at PayPl Ltd. Her salary package includes reimbursement of her home telephone account. During the 2020 FBT year, the total cost was $7787. Penny would have been entitled to claim a deduction of 25% under the Tax Acts. PayPI Ltd is entitled to claim an input tax credit for GST purposes. Required: Calculate the Fringe Benefits Tax that PayPI Pty Ltd is liable to pay on this fringe benefit for the 2020 FBT year. Only enter numbers & round to the nearest dollar Answer:
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Intermediate Accounting
Authors: Kin Lo, George Fisher
Volume 1, 1st Edition
132612119, 978-0132612111
