Identify and analyse relevant issues

Reference no: EM132212288

Question: Jamie is a real estate agent working for Houses R Us' real estate. As part of his employment contract, Jamie receives a base salary of $50,000 per annum plus 10% of the agency's commission on sold properties where he has had a direct connection with the sale. He is also provided with a car, a Toyota Kluger costing $48,000. He is not required to contribute to the running costs of the car which total $13,500 per year and is allowed to use the car outside of work hours and on weekends.

Jamie's salary package also includes a laptop which cost $2,300 and a mobile phone costing $1,200 per year. His employer also reimburses his annual professional subscription of $550 and provides him with an entertainment allowance of $2,000 per year.

Jamie was also lucky enough to achieve the highest sales for the previous six month period and was rewarded with a high tech home entertainment system worth $4,800.

Houses R Us' also offer their staff loans of up to $100,000 towards purchasing their own house at a rate of 4% per annum. Jamie is considering taking up this offer to purchase his first home.

Required: Advise Jamie and Houses R Us' of the taxation and FBT consequences of these transactions. You are not required to calculate any FBT liability. should be presented like essay not more than 1500 words citing relevant cases and laws

In assessing your assignment the marker will expect you to:

present an essay that is readable and coherent;

use appropriate language, correct spelling and grammar;

identify and analyse relevant issues;

explain and apply relevant cases, rulings and legislation;

reach a sound and well-reasoned conclusion;

use appropriate referencing; and

demonstrate time management skills

Reference no: EM132212288

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