Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 3 sam accepts an offer of employment made by qp

3 Sam accepts an offer of employment made by QP Pty Ltd (QP)...

70.2K

Verified Solution

Question

Accounting

3

Sam accepts an offer of employment made by QP Pty Ltd (QP) to be their new marketing manager.

On 1 April 2019 QP made an interest free loan of $75754to Sam. He used the loan to pay off the mortgage on his mother's home.

QP is not entitled to claim an input tax credit for GST purposes.

Required:

Advise QP of the fringe benefits tax payable, if any, (rounded to the nearest dollar) for the FBT year ended 31 March 2020

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A company has 2 investment opportunities with the following cash flows:                                   Year 1           Year 2           Year 3      Investment A            $1,500          $1,250          $1,800      Investment B            $1,500          $1,500          $1,500 If...

Finance
Q

In another case –control study researchers investigated cleft lip with or without cleft palate by smoking...

Basic Math
Q

You are working in the ED at Harborview Medical Center. You are seeing a 52-year-old male...

Biology
Q

Find the derivative of f x x 5 6x 2

Calculus
Q

In the following exercise eliminate the parameter t use the rectangular equation to sketch the...

Algebra
Q

6 6 WA CHC 2 zoom in x K 6 The DOMAIN of the fu...

Algebra
Q

Garden Sales, Incorporated, usually has to borrow money during the second quarter to support peak...

Accounting
Q

Halen Oil Company adopts the full cost accounting. The company acquired shooting rights to 1,000...

Accounting
Q

The highest and lowest levels of activity for the Felton Company were 58,000 direct labor...

Accounting
Q

Espresso Express operates a number of espresso coffee stands in busy suburban malls. The fixed...

Accounting
Q

Consider the following information for Maynor Company, which uses a perpetual inventory system: ...

Accounting
Q

Multiple-choice Question (2 points) Which of the following statements is correct about diversification? Choose one...

Finance