Sam accepts an offer of employment made by QP Pty Ltd (QP) to be their new marketing manager.

On 1 April 2019 QP made an interest free loan of $78913to Sam. He used the loan to pay off the mortgage on his mother's home.

QP is not entitled to claim an input tax credit for GST purposes.

Required:

Advise QP of the fringe benefits tax payable, if any, (rounded to the nearest dollar) for the FBT year ended 31 March 2020.