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In: AccountingQuestion 2Jamie is a real estate agent working for ‘Houses R Us’ realestate. As...Question 2Jamie is a real estate agent working for ‘Houses R Us’ realestate. As part of his employment contract, Jamie receives a basesalary of $50,000 per annum plus 10% of the agency’s commission onsold properties where he has had a direct connection with the sale.He is also provided with a car, a Toyota Kluger costing $48,000. Heis not required to contribute to the running costs of the car whichtotal $13,500 per year and is allowed to use the car outside ofwork hours and on weekends.Jamie's salary package also includes a laptop which cost $2,300and a mobile phone costing $1,200 per year. His employer alsoreimburses his annual professional subscription of $550 andprovides him with an entertainment allowance of $2,000 peryear.Jamie was also lucky enough to achieve the highest sales for theprevious six month period and was rewarded with a high tech homeentertainment system worth $4,800.‘Houses R Us’ also offer their staff loans of up to $100,000towards purchasing their own house at a rate of 4% per annum. Jamieis considering taking up this offer to purchase his first home.RequiredAdvise Jamie and ‘Houses R Us’ of the taxation and FBT consequencesof these transactions. You are not required to calculate any FBTliability.RationaleThis assessment task will assess the following learningoutcomes:be able to identify and explain the rules of law relating totaxation law topics covered in the subject.be able demonstrate a capacity to engage in legal research.be able to use legal research skills to apply the law to legalproblems relating to taxation so as to reach a solution.be able to analyse legal rules so as to differentiate betweenpossible outcomes to the legal issues arising from novel factsituations.