A Company provides its employee with a car on 1 April 2015. Daniel is entitled to use it for personal transport, but he lives in the city so it stays garaged for most of the year. The car cost $75,000. employee paid $1,500 for insurance, which Company A reimbursed.
Company A provides its managing director with a loan of $20,000 to purchase a jet ski on 1 April 2015. Company A charges director interest at 2.95% per annum.
Calculate Company A's FBT liability for the 2016 FBT year