Paul is a manager of a public listed company in Sydney with an annual salary of $100,000. Moreover, the employer provided him with the following fringe benefits from I April 2021 to 31 March 2022. i. An allowance of $600 for the estimated cost of his private use mobile phone; ii. An all-expenses-paid holiday of $5,000 to his family during the Christmas break; and iii. A low interest rate loan of $100,000 at an interest rate of 1% per annum. (a) Discuss the fringe benefits tax consequences arising from the above information. (10 marks (b) Calculate the taxable value of fringe benefits for the year ended 31 March 2022. (10 marks)