Tax rates 2023-24 INDIVIDUAL RESIDENT Taxable income Tax on this income 0-$18,200 Nil $18,201 - $45,000 19c for each $1 over $18,200 $45,001 - $120,000 $5,092 plus 32.5c for each $1 over $45.000 $120,001 -$180,000 $29,467 plus 37c for each $1 over $120,000 $180,001 and over $51,667 plus 45c for each $1 over $180,000 The above rates do not include the: . Medicare levy of 2% COMPANIES . Small business entities - 25% . Other companies and entities - 30%Your client A1 Services Pty Ltd has 10 employees and has approached you for advice on the following transactions: a) Payment to an employee for an estimated cost of electricity used in his home workshop. Total amount paid during the Fringe Benefits Tax (FBT) year $450. b) Loan to an employee at 1% interest. The employee used the loan as a deposit to buy a holiday home with intention to rent it out. Loan of $45,000 provided on the 1st April 2023. c) Payment of an employee's medical bills for a recent heart scare. Total amount paid during the FBT year $3,500. d) $150 gift card to all employees as a Christmas present e) Payment of Christmas party for all employees to attend, total cost $2,500 REQUIRED: Advise A1 Services Pty Ltd which of the above items will be subject to Fringe Benefits Tax and determined the taxable value of the benefit provided. Provide justification for your comments using legislation and case law