Reference no: EM132630236
Question - Perisher Pty Ltd (Perisher) is a Ski equipment manufacturer that operates around Mt Hotham in Victoria. On 1 May 2019, Perisher provided Nikita (one of its employees) with a car as Nikita does a lot of travelling for work purposes. However, Nikita's usage of the car is not restricted to work only. Perisher purchased the car on that date for $44,000 (including GST) plus $2,000 (including GST) dealer delivery charges. For the period of 1 May 2019 to 31 March 2020, Nikita travelled 12,000 kilometers in the car and incurred expenses of $770 on minor repairs that have been reimbursed by Perisher. The car was not used for 10 days when Nikita was interstate and was parked at the airport and for another five days when the car was scheduled for annual repairs.
Required - Calculate the Fringe Benefits Tax Liability for Perisher
Please have a look at the matrix below on how toanswer the question:
1. Identification of material facts (issues) regarding fringe benefits provided to Nikita.
2. Identification and analysis of legal issues / legal question and relevant taxation law in regards to fringe benefits (e.g. FBTAA 1986).
3. Thorough application of tax law (e.g. ITAA 1936 and ITAA 1997) to material facts in Perisher's case.
4. Accurate conclusion of the FBT calculation.
5. Correct information and taxation law have been used and properly cited. A detailed analysis has been performed.
|
EG-219 Statistical methods in Engineering Assignment
: EG-219 Statistical methods in Engineering Assignment Help and Solution, Swansea University - Assessment Writing Service - Sketch the cumulative distribution
|
|
How much was Baltimore revenue for the year
: No dividends were paid. Expenses incurred during the year were $86,000. How much was Baltimore's revenue for the year
|
|
Find the material handling costs allocated to each unit
: Material handling costs total $200,000. Under ABC, find the material handling costs allocated to each unit of Model A
|
|
Determine the book value per share of common stock
: The preferred stock was noncumulative and had a call price of $105. Use this information to determine the book value per share of Common Stock
|
|
Calculate the Fringe Benefits Tax Liability for Perisher
: Calculate the Fringe Benefits Tax Liability for Perisher - Identification of material facts (issues) regarding fringe benefits provided to Nikita
|
|
IE-332 Engineering Statistics Assignment
: IE-332 Engineering Statistics Assignment Help and Solution, King Abdulaziz University - Assessment Writing Service - What additional independent variables
|
|
Find the shareholders equity of Tandy Co Ltd
: Tandy Co. Ltd was set up with a share capital of $2 000 000. Find the shareholders' equity of Tandy Co. Ltd at the end of year 3
|
|
What price does this firm charge its customers
: A firm has $2,200,000 in sales, a Lerner index of 0.61, and a marginal cost of $50, What price does this firm charge its customers
|
|
Difference between self-operated and contract management
: Question - What is the difference between self-operated and contract management in noncommercial food and beverage operations
|