Calculate the fringe benefit tax liability


Problem: vin rouge during the fbt year ended 31st march 2024 paid the following: on 28 february 2024 vin rouge paid $800 to purchase iPad for sale manager. the sales manager generalll uses it 65% on the time for work related purposes and 35% of the time for private use. roy is employed by vin rouge as a quality control manager, on 1 april 2023 roy was provided with the use of company owned vehicle for both business and private use. the cost of car was 53,000. vin rouge piad repairs and maintenance of 860 and paid registration and insurance of 1,100. while being repaired for 5 days roy was unable to use the car. . fuel costs were paid by roy of 1,500. roy was not reimbursed for the fuel expensebut provided a declaration to vin rouge forthe amoutn paid. Assuming that these are only firnge benefits provided by vin rouge for the fbt year ended march 2024. Calculate the fringe benefit tax liability

 

 

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Accounting Basics: Calculate the fringe benefit tax liability
Reference No:- TGS03426251

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