Kate has been employed as a kitchen design and sales consultant by ABC Designs Pty Ltd since 1…

Kate has been employed as a kitchen design and sales consultant
by ABC Designs Pty Ltd since 1 July 2020. As part of her job Kate
is required to travel to client’s premises to undertake quotes and
measurements and so ABC Designs Pty Ltd has provided her with a new
Toyota RAV4 which has a leased value of $42,000. Kate’s logbook for
the year shows that she travelled a total of 18,000km of which
12,000km were for business use. Total running costs of the vehicle
for the year including lease payments, services, fuel, registration
and insurance were $11,000. In addition to the vehicle, Kate was
also provided with the following items: Laptop valued at $2,200
Mobile phone valued at $600 ABC Designs Pty Ltd have paid the
rental on the mobile phone of $1,200 (GST inclusive) per annum and
the mobile broadband internet usage on the laptop of $2,000 (GST
inclusive) per annum. Kate has signed a declaration stating that
both items and the internet are used 80% for work related purposes.
Kate has also negotiated for the company to provide her with a low
interest loan of $50,000 that she used towards purchasing her first
home in which she will live. Kate pays an interest rate of 3% on
this loan. Kate also received a bonus from her employer of $2,000
on 1 March 2021 for securing the most kitchen contracts over a
six-month period. All amounts are GST inclusive where
applicable.

Calculate the taxable value of the fringe benefits provided to
Kate for the FBT year ended 31 March 2021 (3 marks)