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Question - John Holmes, who is employed by Locksmith Pty Ltd, received the following benefits as part of his salary package:
A company car valued at $30,000 was provided for John's private use on 1 April and was garaged at his home every night. There was no logbook maintained of its actual use.
He received a travel allowance of $10,000.
He also received a trip to London valued at $2,500. He used the trip wholly to attend an advanced locksmith engineering course.
Required - Determine the FBT in respect of the above benefits?
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