Question 2 Jamie is a real estate agent working for 'Houses R Us, real estate. As part of his employment contract, Jamie receives a base salary of $50,000 per annum plus 10% of the agency's commission on sold properties where he has had a direct connection with the sale. He is also provided with a car, a Toyota Kluger costing $48,000 He is not required to contribute to the running costs of the car which total $13,500 per year and is allowed to use the car outside of work hours and on weekends. Jamie's salary package also includes a laptop which cost S2,300 and a mobile phone costing $1,200 per year. His employer also reimburses his annual professional subscription of $550 and provides him with an entertainment allowance of $2,000 peryean Jamie was also lucky enough to achieve the highest sales for the previous six month period and was rewarded with a high tech home entertainment system worth $4,800 Houses R Us, also offer their staff loans of up to $100,000 towards purchasing their own house at a rate of 4% per annum. Jamie is considering taking up this offer to purchase his first home Required Advise Jamie and Houses R Us' of the taxation and FBT consequences of these transactions. You are not required to calculate any FBT liability.(15 marks) Rationale back to top