Question
On 21 March 2019, Ben accepts an offer of employment from Vets2U Pty Ltd. His salary package includes a company car worth $45,000. On the
On 21 March 2019, Ben accepts an offer of employment from Vets2U Pty Ltd. His salary package includes a company car worth $45,000. On the day the car was purchased, it was also fitted with a custom-made carrier for Bens dog which cost $2,500.
Throughout the FBT year Ben paid $65 for petrol. All other expenses on the car such as insurance, roadside assistance, maintenance, and petrol came to $2,000 and was paid for by Vets2U Pty Ltd. Ben did not keep a logbook.
Vets2U Pty Ltd intends to claim input taxed credits on providing the car to Ben.
Advise Vets2U Pty Ltd of the FBT payable on this Fringe Benefit for the 2020 FBT year.
Can you please provide me the answer with in 15 minutes please.
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