Datum Pty Ltd provided the following fringe benefits for staff members during the FBT year ended 31 March 2019:
Assume Datum Pty Ltd sells identical goods to the public generally.
Required:
Calculate the fringe benefits tax liability for Datum Pty Ltd for the FBT year ended 31 March 2019.
Alex was provided with (for no cost to Alex) a laptop computer which has a retail selling price of $4,000. This is used by Alex 60% for work related purposes and Linda took home stock with a retail price of $3,100 (she did not pay anything for this stock).
Aggregate fringe benefit provided by employer =$4100*60%+3000=$2460+3000=$5460
Assuming the fringe tax rate of 30%
Fringe Benefit taxable=5460/(1-30%)=5460/0.7=$7,800
The tax payable is the fringe benefits taxable amount multiplied by the rate of tax=7800*30%=$2,340
The fringe benefits tax liability for Datum Pty Ltd for the FBT year ended 31 March 2019=$2,340
Datum Pty Ltd provided the following fringe benefits for staff members during the FBT year ended 31 March 2019: Alex was provided with (for no cost to Alex) a laptop computer which has a retail selli...
Datum Pty Ltd provided the following fringe benefits for staff members during the FBT year ended 31 March 2019: Alex was provided with (for no cost to Alex) a laptop computer which has a retail selling price of $4,000. This is used by Alex 60% for work related purposes; Linda took home stock with a retail price of $3,100 (she did not pay anything for this stock); Assume Datum Pty Ltd sells identical goods to the public generally. Required:...