scott is the employee of nicehouse furniture pty ltd, during the fbt year, scott purchased a...
scott is the employee of nicehouse furniture pty ltd, during the fbt year, scott purchased a leather sofa for $300, where the normal selling price for the customers of the sofa is $10000, calculate the taxable value of the fringe benefit
Homework Answers
A Fringe benefit is a form of pay for the performance of services by the employee to his/her employer.
Here the taxable value of fringe benefit is $9700 ( $10000 minus $300)
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scott is the employee of nicehouse furniture pty ltd, during the
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Question 2 (Marks: 15) Chopin (Pty) Ltd ordinarily pays their employees a bonus in the form of a thirteenth cheque together with their December pay. This has created a constructive obligation on their part to recognise the liability. Chopin (Pty) Ltd only pays the bonus if the employee is still working for the company on 31 December of each year. Any employees joining the company during the year are paid a pro-rata (proportional) amount of their bonus. On 1 January...
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