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Calculate the reportable fringe benefits amount

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Reference no: EM133101604

Question - Cameron received the following benefits from his employer for the FBT year

Fully maintained vehicle cost $28,000. No log book was kept.  The car is used predominately for work purposes and is garaged at Cameron's house overnight.  Cameron made no employee contribution.  Cameron's employer uses the statutory method to value the car.

Work related compulsory seminar held off business premises, during office hours, for a value of $1,200.

Cameron's employer paid for Cameron's personal dental bills of $3,200

Salary sacrificed $19,000 into a complying superannuation fund

Required -

a) Calculate the Reportable Fringe Benefits Amount and Reportable Employer Superannuation Contributions to be included on Cameron's Payment Summary.

b) If Cameron's total concessional contributions amounted to $28,000, explain the effect that it could have on his personal taxation situation.

Reference no: EM133101604

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