(Answered) Paul is a sales manager of chatswood pty ltd with a weekly

Accounting

Paul is a Sales Manager of Chatswood Pty Ltd with a weekly salary of $1,000. He is mainly responsible for selling camera equipment in NSW. On 1 April 2011, Paul was provided with a fully maintained company car which was newly bought for $22,500 on the day. From 1 April 2011 to 31 March 2012, Paul travelled 20,000 km for private purposes and paid nothing at all during the year. He was also provided with an entertainment allowance of $2,000 per year. In addition, part of his executive package provided him with a loan of $8,000 for a year at a concessional rate of 3% per annum commencing 1 April 2011.

REQUIRED:

Advise Chatswood Pty Ltd as to its fringe benefits tax liability for the year ended 31 March 2012.

View complete question

Taxation, Accounting

Category:- Taxation
Reference No.:- M91033431
Price:- $20

Verified Expert

Priced at $40 Now at $20, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Taxation

1-several years ago courtney borrowed 100000 of recourse

1-Several years ago, Courtney borrowed $100,000 of recourse debt from the Friendly Local Bank and used it to buy some equipment to start up a business. Courtney's business results have been disappointing and she has not ...

Tax policy is defined as which taxes the government chooses

Tax policy is defined as which taxes the government chooses to levy, in what amounts and on whom. Elements of this decision are based on both the amount needed to pay for expenditures as well as the effect taxes can have ...

Question - amber owned and operated a boutique chocolate

Question - Amber owned and operated a boutique chocolate shop in Sydney that she purchased for $240,000 in August 2010. The purchase price consisted of equipment and stock worth $110,000 and the balance being goodwill. F ...

Taxation law assignment -elwood blues is an australian

Taxation Law Assignment - Elwood Blues is an Australian resident for tax purposes and one of your best clients. Elwood has a varied portfolio and usually has a number of interesting questions to ask about the tax implica ...

Introducation to australian tax laws questions -question 1

INTRODUCATION TO AUSTRALIAN TAX LAWS QUESTIONS - Question 1 - Holly Gordon has retired and derives her income from a series of investments and a part time job at the local cafe. Her income and expenses for the year inclu ...

Question 1you are working as a tax consultant in mayfield

Question 1 You are working as a tax consultant in Mayfield, NSW. Your client is an investor and antique collector. You have ascertained that she is not carrying on a business. Your client provides the following informati ...

Taxation theory practice amp law assignment -question 1 -

Taxation Theory, Practice & Law Assignment - Question 1 - You are working as a tax consultant in Mayfield, NSW. Your client is an investor and antique collector. You have ascertained that she is not carrying on a busines ...

Tax law question - mary was born and raised in central new

TAX LAW QUESTION - Mary was born and raised in central New South Wales. She moved to Sydney to attend University in 2010, and graduated with a Bachelor of Commerce from the University of Sydney in December 2013. In 2009, ...

Understanding tax returns assessment - prepare tax returns

Understanding Tax Returns Assessment - Prepare tax returns for individuals To complete these activities you are required to: a) Conduct independent research and analysis of relevant Tax Law. b) Access the most up to date ...

Taxation theory practice amp law assignment -question 1 -

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Taxation Expert

Accounting

Related Questions in Taxation

1-several years ago courtney borrowed 100000 of recourse

Tax policy is defined as which taxes the government chooses

Question - amber owned and operated a boutique chocolate

Taxation law assignment -elwood blues is an australian

Introducation to australian tax laws questions -question 1

Question 1you are working as a tax consultant in mayfield

Taxation theory practice amp law assignment -question 1 -

Tax law question - mary was born and raised in central new

Understanding tax returns assessment - prepare tax returns

Taxation theory practice amp law assignment -question 1 -

Ask Experts for help!!

Looking for Assignment Help?

Why might a bank avoid the use of interest rate swaps even

Describe the difference between zero coupon bonds and

Compute the present value of an annuity of 880 per year

Compute the present value of an 1150 payment made in ten

Compute the present value of an annuity of 699 per year

Follow Us