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 Question 1

Lets calculate FBT(Fring Benefits Tax)

Personal usage of car is 6000 Kilometers (According to cents-per-mile rule)

then we get that 6000 kilometers==>3728 miles

(where one mile equals to 5.5 cents)

then we get

==>3728 x 5.5==>20,504

Now as based on Loan we get that

==>100,000 x interest rate of 5%

==>100,000 x 5%

==>5000

So, Finally the total FBT(Frings Beifits Tax) will be

==>20,504 x 5000

==>25,504

FBT must Leo pay for the year ended 31st Mar 2019 is

==>25,504.

As per chegg guidelines I have answered the 1st question please post remaining questions sperately. Thanks!

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