Question
TAX - Fringe benefit tax explain whether the benefits provided to the employees would be liable to fringe benefit tax providing statutory references where appropriate:
TAX - Fringe benefit tax
explain whether the benefits provided to the employees would be liable to fringe benefit tax providing statutory references where appropriate:
Magix Plastic Industries Limited installed a swimming pool at its factory for its employees to use during the summer. Another reason for its installation is to have it available as a source of water for fire fighting which is a necessary precaution since the factory uses many flammable materials in its production processes.
Blackstone Securities Limited rents parking spaces in a nearby parking building for all of its five account managers. These five parking spaces are specifically identified and reserved for the use of the firm. They cost $150 per week to rent and employees are required to contribute personally $25 per week towards their cost.
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