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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. Show all tml 17 rum ndi All amounts are GST inclusive where applicable. Required a. With reference to relevant legal authority, advise Kate and ABC Designs Pty .td of the taxation consequences of the above employment package in respect of the FBT year ending 31 March 2021 (4 marks) b. Calculate the taxable value of the fringe benefits provided to Kate for the FBT year ended 31 March 2021

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