Which of the following statements about the way FBT liability is calculated is incorrect?
A) The FBT rate of tax is 47% for the FBT year ended 31 March 2020
B) The gross-up factor for Type 1 benefits is 1.8868
C) The FBT year ends 31 March
D) The taxable value for each type of fringe benefit is determined by the rules for that type of fringe benefit
Correct Answer:
Verified
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