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Question 2 (10 points) From 1 March 2021, employee A was provided with a company car. The vehicle had a cost price of R330 000
Question 2 (10 points) From 1 March 2021, employee A was provided with a company car. The vehicle had a cost price of R330 000 (excluding VAT of 15%) on 1 July 2018. This vehicle was used as a pool vehicle from the purchase date until the date employee A received the right of sole use. The vehicle is not subject to a maintenance plan. Employee A kept an accurate logbook and travelled 15 000 kilometres for private use out of 35 000 kilometres in total during the 2022 year of assessment. The determined value of the vehicle before depreciation (if any) to be used to determine the taxable benefit is: Blank #1 The determined value of the vehicle after depreciation (if any) to be used to determine the taxable benefit is: Blank #2 If employee A did not keep a logbook, the taxable portion of the right of use of a vehicle fringe benefit, will be: Blank #3 Employee A did keep a logbook so the taxable portion of the right of use of a vehicle fringe benefit will be: Blank #4 Calculate the taxable portion of the fringe benefit that will be included in employee A's gross income for the 2022 year of assessment IF the vehicle was brand new no records were kept and employee A pays R500 per month for the use of the vehicle. Blank #5 Blank # 1 Blank # 2 Blank # 3 Blank #41 Blank # 5
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