|Asset||Personal /Collectible||Cost base||Sale Price||Capital Gain/(Loss)||Capital Gain/(Loss) of Category|
|Home sound System||Personal Asset||12,000||11,000||-1,000||-1000|
|Shares in Listed Co.||Other Asset||5,000||20,000||15,000||15,000|
|A.||Value of Fringe benefit without having regard to otherwise deductible rule [$1,000,000 x 5.65%] – [$1,000,000 x 1.00%] $56,500 – $10,000 = $46,500||$46,500|
|B||Value of Fringe benefit considering that loan is given at free of interest [$1,000,000 x 5.65%] = $56,500||$56,500|
|C||Hypothetical interest value that employee will use as deduction [Portion used for the income producing purpose] [$1,000,000 x 5.65%] x 40% = $56,500 X40%||$22,600|
|D||Actual interest value that employee will use as deduction [Portion used for the income producing purpose) [$1,000,000 x 1.00%] x 40% = $10,000 X40% = $4,000||$4,000|
|E||Value that can be reduced from Value of fringe benefit [C-D] $22,600 - $4,000 = $18,600||$18,600|
|F||Final Taxable value of fringe benefit [A - E] $46,500 – $18,600||$27,900|
Hello, everyone! I’m Celina, an educationist and academic consultant. I enjoy reading, learning, and implementing the same in the assignments. I also take a lot of pride in guiding students with their assignments. I have 6 years of experience in writing assignments for students and when not doing that I follow my passion for blogging. I spent my spare time often researching new trends of writing.
Doing your Assignment with our resources is simple, take Expert assistance to ensure HD Grades. Here you Go....
Get Flat 10% Discount Upto A$50 on all Assignment Orders:
Get 20% OFF upto A$40 on your First Assignment order.
Get 500 Words Free on your Assignment: