Willie Jeep On 1 March 2020, Willie Jeep was granted the use of a...
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Accounting
Willie Jeep
On March Willie Jeep was granted the use of a motor car as a fringe benefit of his employment. It was purchased by his employer for Rincluding valueadded tax at
Willie Jeep travelled a total of kilometres in it during the year of assessment. Of these total kilometres, kilometres were for business purposes evidenced by relevant details maintained in a logbook by him
Willie Jeep paid
R for its licence,
R for its insurance, and
R for its maintenance it is not subject to a maintenance plan
Willie Jeep actually incurred R on fuel for his private travelling in the motor car.
REQUIRED:
Determine the amount that is included in Willie Jeeps taxable income for this fringe benefit resulting from his employment. for marks
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