Determine the fbt payable by macklan frozen foods


Problem: Macklan Frozen Foods Pty Ltd employs Stephanie Nevile as a salesperson. For StephanieNeville to fulfll her employment activities, she travels all over Brisbane. Macklan Frozen Foodspurchased a car for Stephanie Neville to use for work. Stephanie Neville garages the vehicle ather home and is allowed to use the car outside of work hours for personal travel from the datethe car is delivered. Detaiis relating to the car are given below: ..Type: Volkswagen T-Cross - 5 seater vehicle ?Purchase price: $52,000 (including GST) .: Purchase date: 1 December 2022 Delivery fee: $250 (including GsT) Stamp duty on purchase: $1,200 (no GST) Tow ball (installed prior to delivery): $1,300 (including GsT). Registration: $2,200 (from 1 December 2022) (no GsT)Insurance: $3,200 (from 1 December 2022) (no GST) . Fuel and Oil: $3,500 (including GST)Stephanie Neville paid $400 for the vehicle's regular service on 5 April 2023. She does not getreimbursed from Macklan Frozen Foods for this expense. Stephanie Neville also kept alogbook for the first 12 weeks of driving the car. She travelled 1500 kilometres for work and1000 kilometres for private activities. Macklan Frozen Foods Pty Ltd is registered for GST and elects to use the operating costmethod for any car fringe beneft that might arise for the car provided to Stephanie Nevile.

Question: Determine the FBT payable by Macklan Frozen Foods for the car fringe beneftfor the 2023 FBT year.

 

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Accounting Basics: Determine the fbt payable by macklan frozen foods
Reference No:- TGS03417892

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