Simpsons and Associates is a law firm which has provided the following benefits to its employees for the 2018/19 FBT year. The turnover for the firm is $12M.

Identify the relevant elements of Australian tax law in the following scenario and document the FBT payable by Simpsons and Associates for the tax year 2018/19. Show your workings by embedding your spreadsheet or table below.

• James was provided with a Toyota which is parked at Jamess home. The car was bought by the company on 1 April 2015 for $48,500 (GST inclusive), including $1,900 for registration and compulsory third party insurance.
• Susan and her family were given a weekend trip to Hunter Valley costing $3,500 (GST inclusive).

• Brad was provided with a loan from the company for $200,000 on 1 August 2018 and paid 2% per annum interest on the loan. The bank interest rate is 7.5%.
• Louis was provided car parking at the office car park. Wilson Parking is located within a one kilometre radius of where Louiss car is parked and charges a fee of $25 for all day parking.