QUESTION

Sandra is an accountant at a company based in Johannesburg. She received the following fringe benefits during the 2023 year of assessment:

1) Meals and refreshments During the final week of February 2023, Sandra worked late at the companys offices in order to finalise the financial accounts. Every evening, during this week, Sandras employer supplied her with free meals and refreshments at the companys offices. The total cost of the meals and refreshments amounted to R1 200. Her employer obtained the meals and refreshments at a discounted rate from a local caterer. The normal retail value of the meals and refreshments amounted to R1 600.

2) Use of company car Sandra was granted the free use of a company motor car from 1 September 2022 until 29 February 2023. The vehicle was originally purchased on 1 July 2021 at a cost of R230 000 (excluding VAT). The vehicle is subject to a maintenance plan. Her employer bears all fuel costs. Sandra used the vehicle solely for private purposes.

3) Use of company gym Sandras employer ran a gym at the companys premises. The gym was for the free use and benefit of all employees and was intended to improve the health and morale of staff. Sandra used the gym on a regular basis throughout the year of assessment. The cost of maintaining the gym amounted to R1 900 per employee, per year.

Calculate the cash equivalent of each of Sandras fringe benefits for the year of assessment ended 28 February 2023