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Ralf was employed by Central Coast Consultants (NSW) Pty Ltd ('Central') as their General Manager on 02 June 2019. Central provided Jason with an executive
Ralf was employed by Central Coast Consultants (NSW) Pty Ltd ('Central') as their General Manager on 02 June 2019. Central provided Jason with an executive car, which was purchased and delivered on the day Ralf commenced his employment. The car was purchased for $62,000, including $2,200 stamp duty. Jason drove a total of 18,200 km from 02 June 2019 to 31 March 2020. He has a logbook showing business use of 20%. Part of Jason's employment contract required Jason to pay all of the running costs on his car. The total value of all running costs for the FBT year ended 31 March 2020 was $5,200.
a) The statutory formula method
b) The operating cost method
Which method would Unique prefer?
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