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Q 1; Is it a car fringe benefit? Mary works for ABC ltd. ABC Ltd provides a car to Mary so that she can drive
Q 1;
Is it a car fringe benefit?
- Mary works for ABC ltd. ABC Ltd provides a car to Mary so that she can drive to see clients during work.
- Mary works for ABC ltd. ABC Ltd provides a car to Mary so that she can drive to see clients during work. She is allowed to drive the car home and park the car in her garage.
Q2: Is it a debt waiver fringe benefit?
- Mary owes $5,000 to her company. Her company decided to waive $1,000 debts.
- Johnson, the director and shareholder of the company. He borrowed $5,000 from the company which has been waived by the company. The companys policy is not to lend money to its employee.
Q3 Is it a loan fringe benefit?
- Mary was provided a loan with interest rate of 10% by her employer. The market interest rate is 8%.
Q4 Is it an expense fringe benefit?
- Mary works for ABC Ltd. ABC pays Marys home phone bills for she has to work from home and use the home phone for work only.
- Mary works for ABC Ltd. ABC pays for Marys home phone bills. It estimates the home phone bill to be $200 a month and pays $200 every month to Marys bank account.
- Mary works for ABC Ltd. ABC pays for Marys home phone bills directly to the telephone service provided on behalf of Mary.
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