Advise qp pty ltd of the fringe benefits tax payable

Assignment Help Accounting Basics

Reference no: EM133538021

Question: Sam accepts an offer of employment made by QP Pty Ltd to be their new associate director.

On 1 August 2016 QP Pty Ltd made an interest free loan of $620584 to Sam.

Sam used the loan money to buy a rental property.

On 1 January 2017, Sam's employer told him that he did not have to repay the loan. The debt was being waived.
QP Pty Ltd is not entitled to claim any input tax credit for GST purposes.

Required:
Advise QP Pty Ltd of the fringe benefits tax payable, if any, (rounded to the nearest dollar) for the FBT year ended 31 March 2017.

Reference no: EM133538021

Questions Cloud

Discuss issues of self-stigma and provider stigma that arise : discuss issues of self-stigma and provider stigma that arise for Elyn Saks, according to the video "A Tale of Mental Illness."

Is it meeting the needs of the population as intended : Is it meeting the needs of the population as intended? How has the effectiveness of the HIPPA policy been verified?

What extent do you receive support from family of origin : To what extent do you receive support from your family of origin, current family, or significant other?

Compute profitability ratios using the dupont analysis : Compute the profitability ratios using the DuPont Analysis for Return on Assets and Return on Equity. The protitability ratios should be hown for all three year

Advise qp pty ltd of the fringe benefits tax payable : Advise QP Pty Ltd of the fringe benefits tax payable, if any, (rounded to the nearest dollar) for the FBT year ended 31 March 2017.

Find between codes of ethics of ACHE and MGMA-ACMPE : What similarities and differences can you find between the codes of ethics of ACHE and MGMA-ACMPE? Review the steps of the ethical decision-making process.

What should be the price of that same shirt in united states : If purchasing power parity holds, what should be the price of that same shirt in the United States if it takes 1.145 dollars to get one euro?

Consider the risk factors above in terms of public policy : Using the risk factors poor parental supervision and peer rejection provide brief a summary of each. Using the two risk factors above, form a strengths-based

What kind of macro-level, or societal level solutions : What kind of macro-level, or societal level solutions, might solve this social issue. Please include references and citations.

User Account

All Pages