An employer sells a computer (cost R10 000; market value R3 000) to an employee for R2 000.What is the taxable fringe benefit?

Which of the following correctly reflects the monthly fringe benefit for a company car with a maintenance plan?

A VAT vendor acquires goods from another vendor and receives an invoice containing all the prescribed particulars except the recipient’s VAT registration number. The invoice is for R6 000 (VAT inclusive). The recipient claims input tax in the same tax period. Which statement is most accurate regarding the validity of the input tax claim?

Employee receives an interest-free loan of R120 000 on 1 August 2024. The official rate = 8.75%. Loan outstanding for 7 months in the 2025 year of assessment. What is the taxable fringe benefit?

Which of the following statements best defines input tax?

Mr A’s remuneration proxy = R300 000.

An employer provides an employee with the private use of a motor vehicle that was purchased second-hand from a non-connected third party for R300 000 (VAT inclusive). The vehicle’s original retail market value when new was R450 000. In terms of paragraph 7 of the Seventh Schedule to the Income Tax Act, what amount must be used as the determined value for calculating the taxable fringe benefit?

Under paragraph 11, an interest-free loan of R2 500 granted for two months to help an employee pay medical expenses results in:

Speedy purchased a motor car as defined (R143 000 incl. VAT), a printer (R6 900 incl. VAT), and a coffee machine (R457 incl. VAT). What is the total input VAT deductible?

A “no-value” fringe benefit arises for transport when: