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Scott is a mortgage broker and has to drive around often to see his clients. His employers has provided him with a car to use
Scott is a mortgage broker and has to drive around often to see his clients. His employers has provided him with a car to use from 1 April 2022. The car was valued at $78,000. Scott is allowed to take the car home and use it for some private use but he is required to keep records in the form of a log book. For the 2023 fringe benefit year, Scott kept the log book which indicated he travelled 30,000 km of which 22,500 kms was work related travel. Scott has kept all the receipts and below is the summary for the current tax vear: Fuel $4,000 Registration $1,000 Insurance $2,000 Repairs $3,000 Parking Fine $500 Required: 1. Who pays the fringe benefit tax? (1 mark) march 2. Calculate the FBT payable. Please show all workings as at 30 Jure 2023 (9
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