., Taxation

Assignment Help:
Alan is an employee at ABC Pty Ltd (ABC). He has negotiated the following remuneration package with
ABC:
• salary of $300,000;
• Payment of Alan''s mobile phone bill ($220 per month, including GST). Alan is under a two-year
contract whereby he is required to pay a fixed sum each month for unlimited usage of his phone.
Alan uses the phone for work-related purposes only;
• Payment of Alan''s children''s school fees ($20,000 per year). The school fees are GST free.
ABC also provided Alan with the latest mobile phone handset, which cost $2,000 (including GST).
At the end of the year ABC hosted a dinner at a local Thai restaurant for all 20 employees and their
partners. The total cost of the dinner was $6,600 including GST.
(a) Advise ABC of its FBT consequences arising out of the above information, including calculation of
any FBT liability, for the year ending 31 March 2014. Assume that ABC would be entitled to input
tax credits in relation to any GST-inclusive acquisitions.
(b) How would your answer to (a) differ if ABC only had 5 employees?
(c) How would your answer to (a) differ if clients of ABC also attended the end-of-year dinner?

Related Discussions:- .

Valuation done for other methods, kindly please help me in getting the valu...

kindly please help me in getting the valuation methods under other methods for the assessment year 2012-13.

Trusts, how are trusts considered a tax minimisation vehicle?

how are trusts considered a tax minimisation vehicle?

Calculate income tax for company, Microrax Company earned before-tax income...

Microrax Company earned before-tax income of $960,000 for its 2013 fiscal year. During the year the company experienced a $605,000 loss from earthquake damage that it considered to

Capital gains tax and inheritance tax issues , Background information J...

Background information Jim set up a limited company; Show the Way Limited (The Company), along with his father in 1983. The company is incorporated in Scotland and has been reg

Federal Taxation , Rubric Item #12(b) -- Margaret''s Own Interest in Father...

Rubric Item #12(b) -- Margaret''s Own Interest in Father''s Trust

Tax Assignment , I have an assignment for tax subject I need it done by 04/...

I have an assignment for tax subject I need it done by 04/24/2013 midnight here''s the case: Sarah is an economist for Smith LLC. In January 2009, she inherited three parcels of

Uganada revenue authority, write a program on Uganda revenue authority tax...

write a program on Uganda revenue authority taxation based on import and export cargo.

RESIDENCE ND SOURCE, FOR THE RELEVANT INCOME YEAR, EILL STANNOS BE REGARDED...

FOR THE RELEVANT INCOME YEAR, EILL STANNOS BE REGARDED AS A RESIDENT OR NON- RESIDENT

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd