Calculating the FBT Liability For Multi Plan
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Calculating the FBT Liability For Multi Plan
Fiona Plum is a sales manager with Multi Plan, a firm of computer distributors. During the2013/14 FBT year Fiona received from her employer a base salary of $40,000, an overseas holiday for $3,000, reimbursement of her private telephone expense of $560 and they paid$730 for her CPA professional membership. On 1 April 2013 Fiona also received from her employer a car and a low interest loan of $75,000. The interest rate on the loan was 1.45%. On 1 April 2013 Fiona used $20,000 of it to buy some shares in BHP, $4,000 to extend her overseas holiday and the balance to reduce the mortgage on her home.
The car cost $60,000 (including GST) and she drove 50,000 kms over the year, 10,000 kms were for private purposes. Fiona paid $200 to mend one of the car’s tires while she was travelling and was not reimbursed. Total car expenses (including Fiona’s contribution) were $12,200. Required a Calculate the FBT liability for the 2013/14 FBT year – show all workings and include all legislation (even if items excluded). [10 marks] b Before FBT was introduced, many believed that receiving a car from your employer tax free was tax avoidance. Explain tax avoidance and why FBT was introduced.
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. 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APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. 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