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On 1 March 2020, Willie Jeep was granted the use of a motor car as...

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Accounting

On 1 March 2020, Willie Jeep was granted the use of a motor car as a fringe benefit of his
employment. It was purchased by his employer for R345000(including value-added tax at 15%).
Willie Jeep travelled a total of 30000 kilometres in it during the 2021 year of assessment. Of these
total kilometres, 18000 kilometres were for business purposes (evidenced by relevant details
maintained in a logbook by him).
Willie Jeep paid
R900 for its licence,
R10000 for its insurance, and
R9200 for its maintenance (it is not subject to a maintenance plan).
Willie Jeep actually incurred R39000 on fuel for his private travelling in the motor car.
REQUIRED:
4.1.
Determine the amount that is included in Willie Jeeps 2021 taxable income for this fringe
benefit resulting from his employment.

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