Question
On the 1st of January 2021, Lebo was granted use of a company vehicle, a brand new Toyota Hilux which cost R420 000 VAT incl.
On the 1st of January 2021, Lebo was granted use of a company vehicle, a brand new Toyota Hilux which cost R420 000 VAT incl. The vehicle had a maintenance plan which covers the vehicle for the shorter of 3 years or 100 000 Kms. Lebo travelled a total of 38 100 Kms of which 11 000 Kms were for business purposes.
The gross fringe benefit amounts to:
|
| A. | R54 600 |
|
| B. | R13 650 |
|
| C. | R27 300 |
|
| D. | R163 800 |
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Loose Leaf For Financial Accounting Fundamentals
Authors: John Wild, Ken Shaw, Barbara Chiappetta
6th Edition
1260151980, 978-1260151985
