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The CEO of a company receives a loan of $120,000 from her company. She uses the money to purchase a principal residence. If she is

The CEO of a company receives a loan of $120,000 from her company. She uses the money to purchase a principal residence. If she is charged 4% p.a. interest on the loan, what is the taxable value of the loan fringe benefit? Assume a statutory rate of interest of 7.55% pa.

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