Forums › ACCA Forums › ACCA TX Taxation Forums › how to advise tax implication
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- September 14, 2015 at 8:09 pm #271822
– Kate is employed in Sunshine Ltd and was provided a patrol car on 1 October 2014. Car has list price of $28,400 and CO2 emission figure of 212g/km. Kate made a capital contribution of $2,500 towards the cost of the car.
– the company also gave a company credit card to kate. During 2014/15 this will be used to pay for:
*- Motor repairs $460
*- petrol $425
– include in the figure for patrol is $180 in respect of private mileage which is not reimbursed to Sunshine Ltd.
– Kate was also provided a laptop costing $3,000 on 6th April 2014, for private use and occasional business use.Required:
Advise Kate of the Tax implication from the provision of the company car, credit card and the laptop computer. Explain why it would be beneficial if Kate paid Sunshine Ltd for her private petrol.September 26, 2015 at 7:55 pm #273662Ok
September 26, 2015 at 8:00 pm #273663I want answer 4 that question
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