Reference no: EM13500205

Tax Ties Pty Ltd (Tax Ties), a provider of tax advice, provided the following benefits during the year ended 31 March 2012:

1. A digital camera worth $600 was provided to Frank Tie, who owns 20% the company and who retired six years ago.
2. Beers and pizzas served in the office for staff each Friday night.
3. Working lunches (sandwiches) provided each day to staff who consumed their lunches at a park close to the office while discussing business matters.
4. Interest-free loan totalling $100,000 provided to a director of Tax Ties who used the loan to buy a boat for his family.
5. Interest-free loan totalling $200,000 given to the Tax Ties director's non-working spouse used to acquire shares that pay franked dividends.
6. Desktop computer worth $5,000 given to the finance manager who uses it at home solely for business purposes.
7. Laptop computer given to the marketing manager who uses it 70% for business purposes.
8. Tax advice worth $800 provided to the accounting manager's newly graduated, non-working daughter.
9. A gift voucher worth $250 given to the receptionist for winning the ‘employee of the year' award.
10. $18,000 on a Christmas party for 64 staff members at a local restaurant, through reimbursing each staff member for their cost.

Tax Ties uses the actual method for determining its fringe benefits tax (FBT) liability in relation to meal entertainment benefits.

Required

Identify whether items 1-10 give rise to taxable fringe benefits and if so, what type of benefit. Quote relevant legislation for any possible key exclusion, reduction or in-house valuation concession (whether or not they actually apply) and briefly explain your answer (a sentence or two will suffice).